Hong Kong: Stocks begin sharply lower on Thursday

[HONG KONG] Hong Kong stocks tanked in the first few minutes of trade on Thursday following a rout on Wall Street, with investors fretting that markets are in line for a correction after a lengthy rally.

The Hang Seng Index fell 1.31 per cent, or 382.68 points, to 28,914.85.

The benchmark Shanghai Composite Index sank 1.08 per cent, or 38.67 points, to 3,534.67, while the Shenzhen Composite Index on China's second exchange shed 1.44 per cent, or 34.84 points, to 2,386.08.

AFP