Hong Kong: Down on default fears
STOCKS closed 0.33 per cent lower yesterday as investors grew concerned that a stand-off in Washington over the budget could lead to a government debt default.
The benchmark Hang Seng Index slipped 75.86 points to 23,138.54 on turnover of HK$54.56 billion.
The index was also dragged down by a slump in heavily-weighted China Mobile, with mainland reports of possible cuts in carrier fees sending the stock down 2.9 per cent yesterday.
That accounted for more than 60 per cent of losses on the index. AFP