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Hong Kong: Stocks fall to 3-week low amid growth, deflation worries

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[HONG KONG] Hong Kong shares fell to a three-week closing low on Wednesday, tracking sluggish trading in Asian markets as worries about global growth and creeping deflation resurfaced.

The Hang Seng index fell 0.7 per cent, to 20,525.86, while the China Enterprises Index lost 0.6 per cent, to 8,697.37 points.

Energy, raw material and financial shares led main indexes lower.

Index heavyweight HSBC Holdings Plc dropped 2.5 per cent. The lender stuck to its promise of higher dividends on Tuesday, after a 14 per cent profit drop fuelled doubts among some investors about the bank's ability to increase payouts.

REUTERS