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Hong Kong: Stocks end lower after credit downgrade

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General view of the Stock Exchange of Hong Kong. The Hang Seng index tumbled 2.81 per cent, or 810.58 points, to close at 27,985.33.

[HONG KONG] Hong Kong shares plunged on Tuesday after Moody's downgraded the city's credit rating, while tourism-linked firms were hit by fears over a Sars-like virus that has spread from China to other countries.

The Hang Seng index tumbled 2.81 per cent, or 810.58 points, to close at 27,985.33.

The benchmark Shanghai Composite Index fell 1.41 per cent, or 43.65 points, to 3,052.14 and the Shenzhen Composite Index, which tracks stocks on China's second exchange, lost 1.28 per cent, or 23.42 points, to end at 1,806.54.

AFP