HK shares plunge after US sell-off
02-12-2008
Hong Kong share prices have plummeted nearly 5 percent in morning trading, tracking sharp losses overnight on Wall Street. The Hang Seng index closed the morning session down 696 points at 13,411. Hong Kong property developers led the decline, after HSBC raised its mortgage rates. Sun Hung Kai Properties lost 8.4 percent, and both Sino Land and New World Development dropped 9.3 percent. Japan's Nikkei fell 4.5 percent, but mainland markets made small gains.
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HSI 696 lower in morning trading
02-12-2008
The Hang Seng Index ended the morning at 13,411 - that's 696 down on the last close. Turnover was HK$22.6 billion. The American dollar's trading at 93.48 yen. The euro is standing at US$1-26. And the pound is worth HK$11-56.
