Hong Kong: Stocks sink as ZTE is hammered

[HONG KONG] Hong Kong shares tumbled more than one per cent on Wednesday ahead of a key Federal Reserve decision, while Chinese telecoms equipment maker ZTE was pummelled as it began trading again after a two-month suspension.

The Hang Seng Index fell 1.20 per cent, or 377.91 points, to close at 30,725.15.

The benchmark Shanghai Composite Index gave up 0.97 per cent, or 30.00 points, to 3,049.80 and the Shenzhen Composite Index, which tracks stocks on China's second exchange, dropped 1.58 per cent, or 27.73 points, to 1,731.43.

AFP