ong Kong shares slipped 1.32 per cent on Thursday, in line with a regional sell-off amid renewed concerns over the global economy.
The Hang Seng Index fell 276.03 points to 20,609.39 on turnover of HK$56.24 billion ($7.20 billion).
The losses follow figures from the US Commerce Department showing a slower-than-expected rise in new orders for manufactured durable goods.
That came after an index of US consumer confidence on Tuesday showed a slip, while home prices continued to fall in January.
The results - added to a cool assessment of the US economy by Federal Reserve chief Ben Bernanke - come after a run of upbeat jobs data that had lifted hopes the recovery is picking up.
On Wednesday the Dow index fell 0.54 per cent, the S&P 500 lost 0.49 per cent and the Nasdaq gave up 0.49 per cent.
CNOOC tumbled 3.3 per cent to HK$15.92, hit by weaker oil prices after several Western nations said they would look at tapping their reserves to dampen down a recent spike in costs.
Some Hong Kong blue chip developers fell, with Henderson Land falling 3.1 per cent to HK$43.95 and Sino Land dropping 2.7 per cent to HK$12.86.
Chinese shares closed down 1.43 per cent. The Shanghai Composite Index, which covers both A and B shares, ended down 32.72 points to 2,252.16 on turnover of 68.0 billion yuan ($A10.43 billion).
While a string of weak economic figures out of China in the past few months had raised expectations of a loosening of monetary policy, dealers have been left disappointed by Beijing's lack of action so far.
"The market may remain weak in the absence of significant positive policies from Beijing, including supportive policies for boosting consumption," Amy Lin, an analyst at Capital Securities, told Dow Jones Newswires.
Resources shares fell on demand concerns.
Sino Platinum slumped by its 10 per cent daily limit to 17.72 yuan, while Jiangxi Copper fell 3.40 per cent to 23.85 yuan.
Oil shares also dropped, with Sinopec down 1.66 per cent to 7.13 yuan and PetroChina 1.62 per cent lower at 9.71 yuan.
© AFP 2012
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The Hang Seng Index fell 276.03 points to 20,609.39 on turnover of HK$56.24 billion ($7.20 billion).
The losses follow figures from the US Commerce Department showing a slower-than-expected rise in new orders for manufactured durable goods.
That came after an index of US consumer confidence on Tuesday showed a slip, while home prices continued to fall in January.
The results - added to a cool assessment of the US economy by Federal Reserve chief Ben Bernanke - come after a run of upbeat jobs data that had lifted hopes the recovery is picking up.
On Wednesday the Dow index fell 0.54 per cent, the S&P 500 lost 0.49 per cent and the Nasdaq gave up 0.49 per cent.
CNOOC tumbled 3.3 per cent to HK$15.92, hit by weaker oil prices after several Western nations said they would look at tapping their reserves to dampen down a recent spike in costs.
Some Hong Kong blue chip developers fell, with Henderson Land falling 3.1 per cent to HK$43.95 and Sino Land dropping 2.7 per cent to HK$12.86.
Chinese shares closed down 1.43 per cent. The Shanghai Composite Index, which covers both A and B shares, ended down 32.72 points to 2,252.16 on turnover of 68.0 billion yuan ($A10.43 billion).
While a string of weak economic figures out of China in the past few months had raised expectations of a loosening of monetary policy, dealers have been left disappointed by Beijing's lack of action so far.
"The market may remain weak in the absence of significant positive policies from Beijing, including supportive policies for boosting consumption," Amy Lin, an analyst at Capital Securities, told Dow Jones Newswires.
Resources shares fell on demand concerns.
Sino Platinum slumped by its 10 per cent daily limit to 17.72 yuan, while Jiangxi Copper fell 3.40 per cent to 23.85 yuan.
Oil shares also dropped, with Sinopec down 1.66 per cent to 7.13 yuan and PetroChina 1.62 per cent lower at 9.71 yuan.
© AFP 2012
Do you have a photo or video that should be published on ninemsn? Or do you have information that could lead to a news story? Let us know by sending an email to news.feedback@ninemsn.com.au
Cousins snaps VIDEO: Ex-footballer clashes with media after drugs arrest. Fireworks blast VIDEO: Thai factory blaze sets off rockets as locals flee. Hoodie rebel VIDEO: Politician booted from US chamber after tribute. Newton stoush VIDEO: CCTV shows actor arguing before 'assault'. Sponsored Links
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