Hong Kong stocks hit by China economy, US debt fears

HONG KONG shares closed heavily down on Wednesday (May 31) on worries about the outlook for China’s economy and US Republican threats to torpedo a Bill aimed at lifting the debt ceiling to avoid a default.

The Hang Seng Index dropped 1.94 per cent, or 361.51 points, to 18,234.27.

The Shanghai Composite Index shed 0.61 per cent, or 19.65 points, to 3,204.56, while the Shenzhen Composite Index on China’s second exchange sank 0.44 per cent, or 8.81 points, to 2,003.18. AFP