Hong Kong: Stocks close down more than 5% on China law fears

[HONG KONG] Hong Kong stocks tanked more than five  per cent Friday after China's proposal for a new security law for the city sparked concerns about fresh protests in the financial hub and stoked further tensions with the United States.

The Hang Seng Index dived 5.56 per cent, or 1,349.99 points, to 22,930.14.

The benchmark Shanghai Composite Index fell 1.89 per cent, or 54.16 points, to 2,813.77, while the Shenzhen Composite Index on China's second exchange lost 2.02 per cent, or 36.22 points, to 1,752.42.

AFP