Economic Calendar

Wednesday, September 3, 2008

HK shares close at 2-wk low; Huiyuan soars

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HONG KONG, Sept 3 (Reuters) - Hong Kong shares fell 2.3 percent on Wednesday, with commodity-linked stocks hit hard as oil prices continued to spiral lower, but China Huiyuan Juice (1886.HK: Quote, Profile, Research, Stock Buzz) soared on news of a $2.3 billion takeover bid by Coca-Cola (KO.N: Quote, Profile, Research, Stock Buzz).

Hang Seng Index futures <0#hsi:> for September dropped sharply, down 674 points to 20,486 at 0800 GMT, exceeding losses on the blue chip index and reflecting the bearish mood among investors.

The benchmark Hang Seng Index .HSI unofficially closed down 480.05 points at 20,562.41, a two-week low.

The China Enterprises Index .HSCE of top locally listed mainland Chinese firms fell 3.3 percent, tracking the 1.2 percent drop on the Shanghai bourse.

(Reporting by Parvathy Ullatil; Editing by Jonathan Hopfner)




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