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Hong Kong, Shanghai: Shares hit by oil prices


[HONG KONG] Hong Kong and Shanghai stocks sank in the first few minutes of trade Tuesday with energy firms taking a hit after oil sank to a seven-year low as crude cartel Opec decided not to slash output.

The Hang Seng Index in Hong Kong slipped 1.00 per cent, or 222.01 points, to 21,981.21.

And the benchmark Shanghai Composite Index slid 0.52 per cent, or 18.28 points, to 3,518.65, while the Shenzhen Composite Index, which tracks stocks on China's second exchange, lost 0.50 per cent, or 11.24 points, to 2,250.17.