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Hong Kong: Stocks slump more than 3% by close

Hong Kong stocks rose Friday, at the end of a tumultuous week dominated by sharp sell-offs in Chinese markets that fuelled a worldwide rout on raised fears about the global economy.

[HONG KONG] Hong Kong stocks slumped again Thursday following a seven per cent collapse in mainland markets that caused trading to be suspended after just 30 minutes as China weakened its yuan-dollar value to a five-year low.

The benchmark Hang Seng Index slipped 3.09 per cent, or 647.47 points, to close at 20,333.34 - it has lost more than seven per cent in its four trading days this year.

In Shanghai the composite Index closed down 7.04 per cent, or 236.84 points, at 3,125.00 and the Shenzhen Composite Index, which tracks stocks on China's second exchange, tumbled 8.24 per cent, or 175.87 points, to 1,958.09.