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Hong Kong: Stocks plummet on opening
[Hong Kong] shares took a beating in the first few minutes of trade Monday, tracking a sharp sell-off on Wall Street at the end of last week after a strong US jobs report fanned fears interest rates will be hiked quicker than thought.
The Hang Seng Index sank 2.72 per cent, or 886.22 points, to 31,715.56.
And the benchmark Shanghai Composite Index fell 1.46 per cent, or 50.41 points, to 3,411.67 while the Shenzhen Composite Index, which tracks stocks on China's second exchange, dropped 1.40 per cent, or 25.54 points, to 1,795.99.