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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: HK stocks fall as investors question China plan AP - 2 hours 11 minutes ago HONG KONG - Hong Kong's key stock index fell almost 5 percent Tuesday as investors questioned the impact of China's multibillion dollar stimulus plan and booked profits from the previos day's rally. The blue-chip Hang Seng Index lost 703.73 points, or 4.8 percent, to 14,040.90. The benchmark advanced 3.5 percent Monday as the market welcomed China's 4 trillion yuan ($586 billion) plan to gird its economy against slowing global demand. "We were overexcited yesterday about the Chinese plan," said YK Chan, fund manager at Phillip Capital Management in Hong Kong. "Investors are starting to think about the plan in details and wondering whether the plan will be effective enough and how (the government) will implement it," Chan said. "There are a lot of questions to be answered." Developers took a beating. Cheung Kong (Holdings) Ltd., Hong Kong's No. 2 property firm by market value, plunged 9.3 percent to HK$72. and Sino Land tumbled 9.5 percent to HK$6.5 In financials, shares of HSBC Holdings PLC slid 4.8 percent to HK$88 after the bank, Europe's largest by market value, announced $4.9 billion in writedowns for the third quarter, as bad loans in the U.S. continued to mount and the credit market faltered. Hong Kong's interbank lending rate, known as Hibor, for three-month loans eased further, falling from 2.14 percent to 2.10 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 TOPWRAP 5-Grim economy data throws spotlight on crisis summitReuters - 59 minutes ago China posts record trade surplus, despite global turmoilAFP - 1 hour 6 minutes ago Oil falls to $60 as China spending optimism wanesAP - 1 hour 24 minutes ago China: Protecting domestic economy is top priorityAP - 1 hour 27 minutes ago Related Articles: Business FTSE 100 down 102.36 at 4,301.56AP - 40 minutes ago Macau leader: No plans to help Sands' financingAP - 47 minutes ago Bertelsmann increases 9 month net profitAP - 49 minutes ago India's Reliance Pet may begin fuel exports in AprilReuters - 50 minutes ago Thai Shin Corp Q3 net profit surges, meets forecastReuters - 51 minutes ago Related Full Coverage China Economy china economy All Full Coverage Most Popular – Business Viewed In Obama's victory, Americans see legacy of Lincoln Britney Spears's son hospitalized: statement US expands record bailout of insurance giant AIG AIDS vaccines: New hope for problem-plagued path MP3 earphones can hamper defibrillators, pacemakers View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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