Hang Seng pulls back from abyss

Business | 13 Mar 2020 4:12 pm

Hong Kong stocks have pulled back at the close today from a torrid morning trading session, when shares once sank by more than 1,600 points.  

The turmoil was triggered by heavy losses on Wall Street overnight and in European markets over fears of deepening economic and social damage across the world from the new coronavirus that spread rapidly from China. 

The benchmark Hang Seng Index gave up 276.16 points, or 1.14 percent at 24,032.91 at the close.

HSBC Holdings (0005) fell by 2.14 percent at HK$ 45.65. CKH Holdings (0001) dropped by 5.21 percent at HK$55.50.

In mainland China, the Shanghai Stock Exchange Composite Index closed down by 1.23 percent at 2,887.43. The Shenzhen Stock Exchange Composite Index gave up 1.08 percent at 1,798.99.

In the region, Tokyo's benchmark Nikkei 225 average and Australia's ASX 200 pared losses, after heavy panic selling in the morning.


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