Shares in Hong Kong dropped to their lowest level since the end of the global financial crisis as investors reacted to the city’s economic recovery plans and the 20th Chinese Communist party congress in Beijing, where leader Xi Jinping is expected to secure a third term, reports the Financial Times.
The benchmark Hang Seng index fell as much as 3% to its lowest level since May 2009, while the China Enterprises index of large mainland companies listed in the city fell as much as 3.3%.
The Hang Seng Tech index was also down as much as 4.8% after the Nasdaq Golden Dragon index, which tracks Chinese tech groups trading in the US, closed trading on Wednesday down more than 7%.
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