Hong Kong: Stocks plunge more than 3% in opening trade

[HONG KONG] Hong Kong stocks plunged more than three per cent in early trade Wednesday, tracking heavy losses in New York and Europe as oil prices sank back below US$30 a barrel.

The Hang Seng Index lost 3.10 per cent, or 601.94 points, to 18,844.90 in the first few minutes.

And Shanghai's benchmark composite index slid 1.09 per cent, or 30.00 points, to 2,719.57 a day after surging more than two per cent.

The Shenzhen Composite Index, which tracks stocks on China's second exchange, dropped 1.13 per cent, or 19.61 points, to 1,709.48.

AFP