Hong Kong Stocks Slump 4 Percent In Early Trading
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2022-03-07 HKT 10:17
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Stocks in Hong Kong tumbled more than four percent in the first few minutes of trade on Monday as investors grow increasingly worried about the impact of the Ukraine war on the global economy.
The Hang Seng Index dived 4.35 percent, or 953.14 points, to 20,952.15.
The losses mirrored hefty selling across Asian markets, with no let-up in Russia's invasion of its neighbour, which has sent the price of commodities soaring to record or multi-year highs.
Oil rocketed to nearly US$140 -- its highest since 2008 -- on concerns about supplies being choked off from eastern Europe as world leaders impose tough sanctions on Russia, the world's third-biggest crude producer. (AFP)
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