Hong Kong Stocks Join Asian Retreat

Hong Kong stocks ended Thursday morning sharply lower, in line with a sell-off across Asia, after the head of the Federal Reserve warned of an uncertain outlook for the US economy.

The Hang Seng Index fell 1.6 percent, to 24,327.

On the mainland, the Shanghai Composite Index fell 1 percent to 3,251, while the Shenzhen Composite Index lost 0.8 percent, to 2,167.

Tokyo, Sydney and Seoul dropped 0.7 percent apiece. Taipei, Manila and Jakarta were also down.

Wellington shed 0.5 percent, a limited drop despite data showing New Zealand's economy fell into recession for the first time in a decade after a record 12.2 percent contraction in the second quarter.

Oil prices edged down a day after chalking up big gains of more than 4 percent. That came on the back of the dovish Fed, a surprise plunge in US stockpiles to levels not seen since April and news that Hurricane Sally prompted some petroleum producers in the Gulf of Mexico to curtain production. (AFP)

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