Hong Kong: Year's gains wiped out

SHARES fell 1.32 per cent yesterday, losing all their gains for 2013 after elections in Italy failed to produce a winner, fuelling fears of gridlock that could spark a new crisis in the eurozone.

The benchmark Hang Seng Index slipped 300.39 points to 22,519.69, below its December 31 close of 22,656.

China Merchants Holdings slid 3.4 per cent to HK$26.75 and oil producer CNOOC fell 1.7 per cent to HK$15.06, while conglomerate Citic Pacific dropped 2.5 per cent to HK$11.10. But Bank of East Asia rose 1.1 per cent to HK$31.25. AFP