Hong Kong stocks slide on China Mobile gloom

December 22nd, 2008 - 6:21 pm ICT by IANS  

Hong Kong, Dec 22 (DPA) Hong Kong shares fell back through the 15,000-point barrier Monday, shedding more than three percent in their second straight day of losses.The blue-chip Hang Seng Index lost 505.12 points, or 3.34 percent, to end the day at 14,622.39. Turnover was a light 36.49 billion Hong Kong dollars ($4.7 billion).

The losses were led by Hong Kong-listed China Mobile, the world’s largest wireless carrier, after it announced a drop in its rate of new subscriptions in November.

The Hong Kong index has lost 50 percent of its value in 2008 after peaking at just under 32,000 points in October 2007.

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