Published:
Hang Seng Index drops to its lowest in more than 2 years
It fell to 16,822.15 with only four stocks escaping declines.
A Bloomberg report said, “Hong Kong’s Hang Seng Index fell to its lowest close since 2009, on concern China’s economy is slowing and after U.S. consumer spending weakened amid a drop in incomes in the world’s largest economy.”
Meanwhile the Hang Seng China Enterprises Index of Chinese companies listed in Hong Kong dropped 5.7 percent to 8,408.26.
Francis Lun, managing director at investment holding company Lyncean Holdings Ltd., was quoted as saying, “Investors are trying to get out of the stock market and wait for it to bottom out.”
View the report here.
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