HK stocks fall amid bond swings, wait for US jobs data

Asian shares fell on Friday as investors grappled with wild swings in bond and currency markets ahead of key US jobs data, while a widening military buildup in the Gulf kept oil prices elevated. In Hong Kong, the benchmark Hang Seng Index plunged 513 points, or 2.09 percent, to open at 24,099. The China enterprises index was down 141 points, or 1.7 percent, lower at 8,078 while the tech index fell 76 points, or 1.81 percent, to 4,176. Bond markets were again the centre of volatility overnight, with the benchmark 10-year US Treasury yields hitting the highest since 2002 at 5.34 percent after capping the biggest quarterly rise in 32 years. They later retreated and were steady at 5.2512 percent in Asia. Fiscal worries in France pushed the spread between French and German sovereign bond yields above 140 basis points, the widest since 2012, rattling European stocks and hitting the euro hard. The single currency slid as far as US$1.1215, the lowest since May 2025, and sank against the yen and the Swiss franc. With mainland markets closed until Wednesday for the National Day Golden Week holiday, other regional markets opened down. In Tokyo, the Nikkei fell 643 points, or 0.93 percent, to open at...