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Hong Kong: Shares fall on mainland market slump

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[HONG KONG] Hong Kong stocks slid on Friday, with the headline Hang Seng index posting its worst weekly performance in two months as a tumble in mainland stocks triggered anxiety across the region.

The Hang Seng index fell 1.9 percent, to 22,068.32. For the week, it was down 3 per cent, the biggest weekly loss since late September.

The China Enterprises Index lost 2.5 per cent, to 9,855.66 points.

Investors, already bracing for a likely US interest rate hike next month, took cues from a slump in the China market, which was triggered by fresh regulatory crackdowns and poor industrial profit data.

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All main sectors were in negative territory, with energy and resource shares suffering the most.

The Hong Kong-listed shares of CITIC Securities tumbled 4.9 per cent, after the Chinese brokerage said it was under investigation by China's stock regulators.

Hong Kong-traded shares of Haitong Securities were suspended from trading, as Reuters reported that the brokerage was also under regulatory probe.

REUTERS

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