Hong Kong: Shares plunge as recession fear returns

HONG KONG shares plunged on Wednesday (Jun 22) as investor fears over a possible recession returned to world markets, fuelled by central bank interest rate hikes aimed at reeling in runaway inflation.

The Hang Seng Index tumbled 2.56 per cent, or 551.25 points, to close at 21,008.34.

The Shanghai Composite Index shed 1.20 per cent, or 39.52 points, to 3,267.20, while the Shenzhen Composite Index on China's second exchange lost 1.28 per cent, or 27.47 points, to 2,119.82. AFP