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Hong Kong: Stocks plunge at end of the week

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Hong Kong and Shanghai stocks ended the week with sharp losses Friday as fears over the global economy were fanned by a European Central Bank growth forecast downgrade and data showing Chinese trade fell off a cliff last month.

[HONG KONG] Hong Kong and Shanghai stocks ended the week with sharp losses Friday as fears over the global economy were fanned by a European Central Bank growth forecast downgrade and data showing Chinese trade fell off a cliff last month.

The Hang Seng Index in Hong Kong sank 1.91 per cent, or 551.03 points, to 28,228.42.

The benchmark Shanghai Composite Index lost 4.40 per cent, or 136.56 points, to 2,969.86, while the Shenzhen Composite Index, which tracks stocks on China's second exchange, tumbled 3.79 per cent, or 63.25 points, to 1,605.28.

AFP

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