Hong Kong shares dive 5.4% as China shuts down Shenzhen

By ELAINE KURTENBACH
AP Business Writer

BANGKOK (AP) — Hong Kong’s share index has plunged 5.4% after the neighboring city of Shenzhen was ordered into a shutdown to combat China’s worst COVID-19 outbreak in two years. Stocks were mixed elsewhere in Asia and oil prices fell. Against the backdrop of uncertainty from the war in Ukraine, Chinese shares have come under selling pressure from the threat of de-listings of major Chinese companies on U.S. stock exchanges. The spreading outbreaks of coronavirus in China also are adding to worries over supply chain disruptions. Global investors are awaiting a decision this week by the U.S. Federal Reserve on raising a key interest rate to counter surging inflation.