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Hong Kong: Shares fall, tracking weak global markets

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[HONG KONG] Hong Kong shares weakened on Tuesday, tracking losses in global markets, although sentiment improved on signs that mainland stocks stabilized, thanks to government intervention following Monday's crash.

The Hang Seng index fell 0.7 per cent, to 21,188.72, while the China Enterprises Index lost 1.0 per cent, to 9,223.01 points.

Hong Kong stocks were dragged lower on Monday by a 7 per cent tumble in China's stock market, but on Tuesday, the blue-chip CSI 300 index recouped losses at the close after the government took measures to calm the market.

Most sectors in Hong Kong still dropped on Tuesday, with telecommunication shares among the biggest losers.

Commodity stocks rebounded over 2 per cent.

REUTERS