HSI plunges 4.1pc on profit-taking
markets.scmp.com
ASSOCIATED PRESS in Hong Kong
Updated at 5.21pm:
Hong Kong share prices tumbled 4.1 per cent - the biggest decline since September 11 two years ago - on Thursday, following sharp losses on Wall Street and in Tokyo.
The blue-chip Hang Seng Index plunged 501.45 points to finish at 11,737.18. On Wednesday, the index shed 12.06 points, or 0.1 per cent.
Turnover jumped to 20.19 billion Hong Kong dollars (US$2.59 billion), up from Wednesday's HK$16.14 billion (US$2.07 billion).
In New York Wednesday, the Dow Jones Industrial Average dropped 1.5 per cent to 9,598.24, while Tokyo's Nikkei 225 Stock Average dived 5.1 per cent to 10,335.16 on Thursday.
There was "general selling from all kinds of investors," said Interactive Brokers Group Director Steve Kelsey. "It looks like the Wall Street is going to have an ugly start tonight, which would affect Hong Kong tomorrow morning."
Technology, telecom and property shares led Thursday's decline.
China Mobile, the listed arm of the mainland's largest mobile operator, fell 6.6 per cent to HK$21.80. Its rival, China Unicom, plunged 7.8 per cent to HK$7.05.
Legend Holdings, China's leading personal computer maker, sank 7.4 per cent to HK$3.45.
Among properties, bellwether Cheung Kong Holdings slid 2.0 per cent to HK$63.00, while rival Sun Hung Kai Properties dropped 5.1 per cent to HK$65.75.
Banking giant HSBC Holdings also lost 3.5 per cent to HK$110.00. |
