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Hong Kong, Shanghai: Stocks battered at open

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Hong Kong stocks dived almost two per cent in the first few minutes of trade on Friday following a rout across US and European markets as the coronavirus quickly spreads around the world, fuelling fears it will hammer the global economy.

[HONG KONG] Hong Kong stocks dived almost two per cent in the first few minutes of trade on Friday following a rout across US and European markets as the coronavirus quickly spreads around the world, fuelling fears it will hammer the global economy.

The Hang Seng Index plunged 1.98 per cent, or 529.56 points, to 26,249.06.

The benchmark Shanghai Composite Index shed 2.23 per cent, or 66.69 points, to 2,924.64 and the Shenzhen Composite Index, that tracks stocks on China's second exchange, fell 3.34 per cent, or 63.31 points to 1,831.82.

AFP