Hong Kong Stocks Slip, Euro Under Pressure

Hong Kong shares fell in the morning session on Tuesday, in line with a sell-off across Asia, with investors spooked by political uncertainty in Italy and tumbling oil prices.

The Hang Seng Index fell 0.6 percent, to 30,601.

On the mainland, the Shanghai Composite Index was down 0.6 percent, to 3,116 while the Shenzhen Composite Index was down 0.3 percent, to 1,801.

Tokyo ended the morning session more than 1 percent lower, while Seoul dropped 0.6 percent. Wellington, Taipei and Manila were also off. However, Sydney added 0.3 percent.

The euro extended losses in Asian trade as political uncertainty in Italy stoked fresh fears about the eurozone.

The chaotic developments have spooked investors, who fear another election could see a better result for the essentially anti-EU parties.

In early Asian trade the single currency continued to suffer, and was in danger of falling below the US$1.16 level last breached in early November. (AFP)

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