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Hong Kong: Shares tumble on worries about global economy, local protests

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- PHOTO: BLOOMBERG

[Hong Kong] Hong Kong shares tumbled nearly 2 per cent on Friday on weakness in global equity markets plus jitters over a possible flare-up in pro-democracy protests in the city.

The Hang Seng Index dropped 1.9 per cent to finish at 23,088.54 points. The China Enterprises Index of the top Chinese listings in Hong Kong fell 1.7 per cent.

For the week, the HSI was up 0.1 per cent while the HSCE index was down 0.5 per cent.

Analysts said some investors were nervous that pro-democracy protests could re-ignite after Hong Kong students said they would maintain their campaign for political change after the city government cancelled talks with them.

In China the benchmark Shanghai Composite Index fell 0.62 per cent, or 14.83 points, to 2,374.54. However, the index rose 0.45 per cent over the week's three trading sessions after an extended holiday. The Shenzhen Composite Index, which tracks stocks on China's second exchange, slid 0.38 per cent, or 5.11 points, to 1,350.60.

-REUTERS,AFP