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Hong Kong Slumps Early As Property Shares Slide
By V. Phani Kumar
MarketWatch Pulse
Tuesday, May 04, 2010
HONG KONG -- Hong Kong shares tumbled at the opening on Wednesday after deepening worries about sovereign debt issues in Europe sparked a sell-off on Wall Street, with local property shares leading an across-the-board fall. The Hang Seng Index dropped 2.1% to 20,333.25, while the Hang Seng China Enterprises Index fell 2.7% to 11,547.55, reflecting another day of steep losses on the mainland bourses, where the Shanghai Composite slid 1.4%. In early Hong Kong trade, shares of China Resources Enterprise Ltd. and Hang Lung Properties Ltd. dropped 3.2% each, Aluminum Corp. of China Ltd. slid 2.6% and Bank of Communications Ltd. lost 3%.
Copyright © 2010 MarketWatch, Inc.
By V. Phani Kumar
MarketWatch Pulse
Tuesday, May 04, 2010
HONG KONG -- Hong Kong shares tumbled at the opening on Wednesday after deepening worries about sovereign debt issues in Europe sparked a sell-off on Wall Street, with local property shares leading an across-the-board fall. The Hang Seng Index dropped 2.1% to 20,333.25, while the Hang Seng China Enterprises Index fell 2.7% to 11,547.55, reflecting another day of steep losses on the mainland bourses, where the Shanghai Composite slid 1.4%. In early Hong Kong trade, shares of China Resources Enterprise Ltd. and Hang Lung Properties Ltd. dropped 3.2% each, Aluminum Corp. of China Ltd. slid 2.6% and Bank of Communications Ltd. lost 3%.
Copyright © 2010 MarketWatch, Inc.
