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Hong Kong shares fall 1.4 pct on China tightening worries
October 23, 2013 / 8:09 AM / 4 years ago

Hong Kong shares fall 1.4 pct on China tightening worries

HONG KONG, Oct 23 (Reuters) - Hong Kong shares tumbled on Wednesday, pushed down by weak China markets after a mid-morning spike in the mainland’s short-term money rates aggravated fears the central bank may soon tighten liquidity.

The Hang Seng Index closed down 1.4 percent at 23,000 points, its lowest close since Oct. 10. The China Enterprises Index of the top Chinese listings in Hong Kong shed 1.8 percent in its biggest daily loss since Aug. 28.

In a bearish sign that may suggest more falls ahead, both indexes had started the day at highs and closed near lows - tracking a reversal of gains in the A-share market after a sharp rise in China’s benchmark seven-day repo contract in the morning.

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