Hong Kong shares fall over six percent on opening

October 16th, 2008 - 10:51 am ICT by IANS  

Hong Kong, Oct 16 (DPA) Hong Kong’s Hang Seng Index opened more than six percent lower Thursday as overnight losses on Wall Street had a heavy impact on markets across Asia.The blue-chip index, which lost five percent of its value Wednesday, was down a further 977.55 points, or 6.11 percent, at 15,020.75 within 20 minutes of the start of trading Thursday.

The losses mirrored overnight drops in the US and Europe and reflected growing fears that the turmoil in the banking sector would lead to a global recession, analysts said.

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