Hong Kong stocks fall more than 2 per cent as debut stock plummets
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Thu, 24 Sep 2009 10:35:26 GMT |
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Hong Kong - Hong Kong shares fell by 2.52 per cent Thursday led by losses in the banking sector and a bad first day for the newly-listed Metallurgical Corporation of China Ltd. The blue-chip Hang Seng Index ended the day down 544.79 points at 21,050.73. Turnover was a relatively robust 78.69 billion Hong Kong dollars (10.1 billion US dollars). Banking heavyweight HSBC Holdings PLC lost 2.31 per cent to close at 88.7 Hong Kong dollars while the Bank of China Ltd fell 3.97 per cent to 4.11 Hong Kong dollars. The biggest loser of the day was the Metallurgical Corporation of China which saw its shares drop 11.5 per cent from the issue price to 5.61 Hong Kong dollars on its first day of trading, making it the worst Hong Kong stock exchange debut this year.
Copyright DPA
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