News Formal

Hong Kong stocks hit three-month low on bank contagion fears

  • 📰 FinancialReview
  • ⏱ Reading Time:
  • 38 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 90%

United States News News

United States United States Latest News,United States United States Headlines

Hong Kong’s benchmark Hang Seng Index slumped 2.7 per cent; the Shanghai Composite Index lost about 0.5 per cent.

failed to ease market concerns of risk contagion.

China stocks also ended lower, erasing earlier gains, despite Beijing’s fresh monetary-easing measures to support economic growth.Hong Kong’s benchmark Hang Seng Index slumped 2.7 per cent, the lowest close since early December. The Hang Seng China Enterprises Index lost 2.2 per cent.

Hong Kong-listed banking stocks tumbled nevertheless on Monday, as the complete write-off of the troubled bank’s bond value soured sentiment. HSBC’s Hong Kong listed shares slumped more than 6 per cent, posting the biggest one-day percentage loss in nearly six months. Bank of East Asia shares dropped more than 4 per cent to a 10-week low. Standard Chartered tumbled more than 7 per cent, the worst performance in a year.China stocks fell even afterReuters

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Australian stock market report | 7NEWSIt was another day of red-ink for Aussie shares with the ASX 200 dropping below 6,900 points. Insurers struggled, while gold miners were a rare bright spot on an otherwise gloomy day. 7NEWS
Source: 7NewsSydney - 🏆 16. / 63 Read more »