Home China Headline HK shares sink to 4-wk lows after Shanghai plunge

HK shares sink to 4-wk lows after Shanghai plunge

Hong Kong blue chips slid 1.8 percent on Tuesday after earlier hitting four-week lows, as steep falls in mainland stocks sparked a sell-off, with the recent high-flying resource stocks hit hard. Hong Kong-listed shares in mainland firms, or H shares, tanked 3.1 percent in their biggest one-day percentage fall since January 10 as mainland financial and property plays plunged. "We're having a correction and it can certainly go further," said Howard Gorges, vice chairman at South China Brokerage. "We should expect a bit more correction at least -- we have good profits on a lot of leading counters." The benchmark Hang Seng Index ended down 360.08 points at 20,147.87 after the Shanghai Composite Index dived nearly 9 percent -- its biggest fall in a decade -- amid worries of further tightening measures ahead of a parliament session which begins next week. Trackback(0) TrackBack URI for this entry Comments (0) Subscribe to this comment's feed Show/Hide comments Write comment Show/Hide comment form Name Email Website Title Comment Write the displayed characters Add Comment Copyright 2007. All Rights Reserved.

 

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