Sunday January 24, 9:38 pm Eastern Time
(Note: this article is ''in progress''; there will likely be an update soon.)
HK's Hang Seng Index sinks at open, futures tumble
HONG KONG, Jan 25 (Reuters) - Hong Kong's Hang Seng Index tumbled at the start of trade on Monday, opening about 200 points lower and then sliding to 9,491, down 247 points or 2.54 percent on overseas market jitters and futures-related selling, brokers said.
The index continued to sink, falling to 9,346.35 before recovering slightly to trade 382 points or 3.9 percent lower at 9,355.
The January Hang Seng Index futures contract opened about 200 points lower at 9,380 then slid further to 9,310.
''The market is soft but I think that we should find some support at 9,000,'' said Ted Chen, regional technical analyst at Indosuez W.I. Carr Securities. ''It must be something very bad overseas to push us below that.''
The index had already fallen about 18 percent from its high this year of 10,900 and should find some support after a 20 percent correction, Chen added.
(Note: this article is ''in progress''
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