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Hong Kong: Shares tumble on worst trading day since February


[HONG KONG] Hong Kong's benchmark share indexes suffered their worst-single day losses since February on Monday as weak manufacturing surveys added to worries about China's slowing economy.

The Hang Seng index fell 2.6 per cent, to 23,367.45 points in a broad-based decline, while the China Enterprises Index lost 2.9 per cent, to 10,818.20 points.

The index measuring price differences between dual-listed companies in Shanghai and Hong Kong was 110.01, its highest level since July 2013.

A value above 100 indicates Shanghai shares are pricing at a premium to shares in the same company trading in Hong Kong, and vice versa, and part of the reason is unbalanced flows across the Hong Kong-Shanghai mutual market access programme.

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Chinese investment flowing from Shanghai into Hong Kong through the mutual market access pilot programme took up only 0.28 billion yuan of the 10.5 billion yuan daily quota , compared to 1.4 billion yuan in the other direction.


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