Shanghai, Hong Kong: Stocks tumble after two-day rise

[HONG KONG] Shares in Hong Kong and Shanghai retreated on Thursday after a two-day rally, following mixed inflation data out of China while investors are also fretting over the Federal Reserve's plans for raising interest rates.

In Hong Kong the Hang Seng Index slipped 2.57 per cent, or 568.81 points, to close at 21,562.5.

Shanghai's benchmark composite index lost 1.39 per cent, or 45.20 points, to end at 3,197.89.

The Shenzhen Composite Index, which tracks stocks on China's second exchange, fell 1.58 per cent, or 28.46 points, to 1,770.38 on turnover of 311.1 billion yuan.

AFP