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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: Hong Kong's stock market dips amid economy fears AP - 1 hour 13 minutes ago HONG KONG - Hong Kong shares declined Wednesday, hurt by weakness on Wall Street and worries about the global economy. The blue-chip Hong Kong's Hang Seng Index fell 101.81 points, or 0.7 percent, to 13,939.09. An overnight pullback in U.S. markets, as well as the increasingly grim outlook for companies around the world, were largely to blame, analyst said. "The markets are more pessimistic today," said Dariusz Kowalczyk, chief investment strategist at CFC Seymor in Hong Kong. "It is evident that recession is having a detrimental impact on demand, prices, sales and profits." Hong Kong developers took a hit amid worries about the local property market. Leading developer Sun Hung Kai dropped almost 4 percent to $63 Hong Kong dollars, while Cheung Kong fell 3.7 percent lower to HK$69.9. In commodities, upstream oil producer CNOOC closed 1.3 percent lower at HK$6.07 as crude prices continued to slide. Hong Kong's interbank lending rate, known as Hibor, for three-month loans eased further, from 2.10 percent to 2.04 percent. ____ On the Net: Stock Exchange of Hong Kong: http://www.hkex.com.hk Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: China's Economy China cuts export taxes to spur economic growthAP - 50 minutes ago Hong Kong's stock market dips amid economy fearsAP - 1 hour 13 minutes ago U.S. stock index futures point to early lossesReuters - 2 hours 28 minutes ago Official: Confidence can help Australian economyAP - 2 hours 37 minutes ago Related Articles: Business Kraft chocolate factory to close in RomaniaAP - 1 hour 21 minutes ago Bank of England: Inflation to fall below 2 pct.AP - 1 hour 16 minutes ago Hong Kong lawmakers debate Lehman probeAP - 1 hour 29 minutes ago Spain: Iberia profits plummetAP - 1 hour 32 minutes ago EU backs proposed Alitalia takeoverAP - 1 hour 43 minutes ago Related Full Coverage China Economy china economy All Full Coverage Most Popular – Business Viewed Britney Spears's son hospitalized: statement Ancient 4,300-year-old pyramid discovered in Egypt US expands record bailout of insurance giant AIG Obama, Bush discuss world of challenges Swiss fear more pressure on bank secrecy after Obama victory View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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