You are here

Hong Kong: Shares fall on mainland market slump


[HONG KONG] Hong Kong stocks slid on Friday, with the headline Hang Seng index posting its worst weekly performance in two months as a tumble in mainland stocks triggered anxiety across the region.

The Hang Seng index fell 1.9 percent, to 22,068.32. For the week, it was down 3 per cent, the biggest weekly loss since late September.

The China Enterprises Index lost 2.5 per cent, to 9,855.66 points.

Investors, already bracing for a likely US interest rate hike next month, took cues from a slump in the China market, which was triggered by fresh regulatory crackdowns and poor industrial profit data.

All main sectors were in negative territory, with energy and resource shares suffering the most.

The Hong Kong-listed shares of CITIC Securities tumbled 4.9 per cent, after the Chinese brokerage said it was under investigation by China's stock regulators.

Hong Kong-traded shares of Haitong Securities were suspended from trading, as Reuters reported that the brokerage was also under regulatory probe.