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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 stock index falls 3.3 percent AP - 1 hour 55 minutes ago HONG KONG - Hong Kong's key stock index dropped over 3 percent Monday as worries about the global economy and company earnings led investors book profits after the market's recent run-up. The blue-chip Hang Seng Index lost 505.12 points, or 3.3 percent, to finish at 14,622.39, its lowest close in more than two weeks. Since hitting its November lows, the benchmark had bounced back more than 20 percent as of Friday. While the U.S. rescue of its auto sector relieved some investors, many were rattled by more signs of economic slowing and company hardships, analysts said. "The rebound is already dead," said Linus Yip, a strategist at First Shanghai Securities. "The economy overall is still in a downtrend. This will hurt company profits, and the worst time could be the first quarter, so we still have difficult times ahead." Heavyweight HSBC lost 3.7 percent to 74.05 Hong Kong dollars, pressuring the broader market, after the bank's credit outlook was revised to negative by ratings agency Standard & Poor's on Friday. China Mobile tumbled 5.5 percent to HK$77 percent on concerns about subscriber growth. Developers also were sharply lower. Sun Hung Kai Properties Ltd., Hong Kong's biggest developer by market value, lost 5.7 percent to HK$66, while Cheung Kong (Holdings) Ltd., was down 5.4 percent to HK$77.05. ____ 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 World jobless total could rise by 25 million: OECD chiefAFP - 24 minutes ago Georgia FDI Jan-Sept down 15.8 pct yy to $1.1 blnReuters - 52 minutes ago TOPWRAP 4-Japan recession deepens, China cuts ratesReuters - 1 hour 23 minutes ago China's central bank cuts interest ratesAP - 1 hour 49 minutes ago Related Articles: Business World jobless total could rise by 25 million: OECD chiefAFP - 24 minutes ago Paris Club cancels a further slice of Iraq debtReuters - 28 minutes ago Aeroflot flight lands in Greece after bomb warningReuters - 28 minutes ago London's FTSE 100 index down at 4,290.30AP - 30 minutes ago BRIEF-IT Holding in talks to postpone debt paymentReuters - 31 minutes ago Related Full Coverage China Economy china economy All Full Coverage Most Popular – Business Viewed Toyota forecast deepens gloom over global economy Let poor eat caviar: Milan authorities New Year's hangover? Take two eels and call me in the morning Actress Jennifer Aniston appears naked in GQ magazine Quake zone hero pig named China's animal of the year View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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