HK stocks suffer sharp losses

Business | 2 Oct 2018 4:03 pm

Hong Kong stocks extended losses today, falling sharply at the close. The blue chip Hang Seng Index tumbled by 2.52 percent, or 700.98 points at 27,087.54. At mid day the stocks were down by 1.64 percent, or 454.81 points at 27,333.71.

Shanghai and Shenzhen financial markets in mainland China are closed for a holiday.

Shares in AIA Group (1299) tumbled by 3.29 percent at HK$67.60, while Tencent (0700) gave up 2.41 percent at HK$315.40.

Shares in CNOOC (883) gained by 1.03 percent at HK$15.66 on news that global crude oil prices have hit new highs.

China Construction Bank (00939) closed at HK$6.62, down by 3.2 percent. CKH Holdings (0001) dropped by 3.3 percent at HK$87.20.

Macau casino resorts owner and operator, Galaxy Entertainment (00027) closed at HK$47.3, down by 4.7 percent.

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