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Hong Kong: Stocks fall for 7th day, down more than 5%
[HONG KONG] Hong Kong stocks fell for the seventh day in a row, with key indexes slumping more than 5 per cent on Monday amid global market turbulence and deepening worries about the Chinese economy.
The Hang Seng index fell 5.2 per cent, to 21,251.57, while the China Enterprises Index lost 5.8 per cent, to 9,602.29 points.
With the indexes breaking key technical support levels, some analysts say the market could fall further, citing China's economic slowdown, potential depreciation of the yuan, and signs of capital flight out of emerging markets.
Sentiment was soured also by the renewed tumble in mainland markets. China's main indexes both fell nearly 9 per cent.
Investors sold shares across the board.