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HK Stocks Widen Losses in Morning Trade, Down 3.54%
[2009-02-16 10:14:14]
Hong Kong stocks tracked overnight U.S. losses to open lower on Wednesday and widen its losses in morning trade 3.54 percent.
The benchmark Hang Seng Index was down 490.87 points at 13,389.77 one hour into morning trade. The China Enterprises Index was also down 4.18 percent.
Turnover reached 14.39 billion HK dollars (1.84 billion U.S. dollars).
Banking giant HSBC shed 5 percent at 59.85 HK dollars, while China Mobile, another market heavyweight and the mainland's leading mobile operator, lost 2.94 percent.
The United States stock markets tumbled around 4 percent overnight, as investors deemed the unveiled bailout plan inadequate. (7.8 HK dollars = 1 U.S. dollar)
Hong Kong stocks opened at 13,546.14 Wednesday, down 334.5 points, or 2.41 percent
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