Hong Kong Hang Seng Index plummets 4.7% in early trade - Asia stocks plunge to join in global rout [View All]

[stockholmer]

Source: WallStreet Journal MarketWatch

Asia stocks plunge to join in global rout

HONG KONG (MarketWatch) -- Hong Kong shares opened Friday's trading to a sea of losses after stocks on Wall Street plummeted overnight, with ports operator Cosco Pacific Ltd. taking a double-digit percentage loss as all constituents of the Hang Seng Index tumbled. The benchmark index plunged 4.7% to 20,856.02, while the Hang Seng China Enterprises Index -- comprised of several large-cap mainland Chinese enterprises -- crumbled 4.8% to 11,324.74 as deeper worries about the global economy led investors to dump stocks. Cosco Pacific /quotes/zigman/14493 HK:1199 -8.99% /quotes/zigman/528823 CSPKY 0.00% fell 11%, while heavyweights HSBC Holdings PLC /quotes/zigman/13834 HK:5 -3.87% /quotes/zigman/207333/quotes/nls/hbc HBC -5.04% and China Mobile Ltd. /quotes/zigman/22400 HK : 941 -2.28% /quotes/zigman/263044/quotes/nls/chl CHL +0.45% dropped 4.4% and 3.8%, respectively. China's Shanghai Composite Index /quotes/zigman/1859015 CN:000001 -1.74% was among the region's best performers, losing just 2.3% to 2,622.51 while regional indexes suffered even bigger losses.


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Asia stocks plunge to join in global rout
http://www.marketwatch.com/story/asia-shares-plunge-to-join-in-global-rout-2011-08-04?link=MW_pulse

Read more: http://www.marketwatch.com/story/hang-seng-index-plummets-47-in-early-trade-2011-08-04