Economic Calendar

Friday, October 24, 2008

HK shares ends at 4-yr low as HSBC plunges

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HONG KONG, Oct 24 (Reuters) - Hong Kong shares slid 7.8 percent to a four-year low on Friday, as Europe's top bank HSBC (0005.HK: Quote, Profile, Research, Stock Buzz) plunged on concerns over growing signs of trouble in emerging economies.

The blue-chip index shed 40 percent in an uninterrupted eight-week downslide.

The benchmark Hang Seng Index .HSI unofficially closed down 1,067 points at 12,693.49, its lowest level since 2004.

HSBC slid about 12 percent.

The blue chip index lost 12.8 percent this week and has given up 54 percent so far this year.

The China Enterprises Index .HSCE of top locally listed mainland Chinese companies dropped 9.2 percent to 5,814.61. (Reporting by Parvathy Ullatil; Editing by Anne Marie Roantree)




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