Hong Kong: Stocks close down

HONG KONG stocks fell sharply on Wednesday (Jun 29), in line with a sell-off across world markets on renewed fears over a possible recession fuelled by rising interest rates aimed at quelling inflation.

The Hang Seng Index dropped 1.88 per cent, or 422.08 points, to 21,996.89.

The Shanghai Composite Index shed 1.40 per cent, or 47.69 points, to 3,361.52, while the Shenzhen Composite Index on China's second exchange lost 2.20 per cent, or 49.41 points, to 2,194.51. AFP