Dow Jones plummet impacts Hang Seng, wider Asia
Hong Kong’s stock index, the Hang Seng, plunged yesterday as shares were sold in a mass panic following the New York stock exchange’s plummet.
On Monday the Dow Jones lost 1,200 points (4.6%) and this has had a knock-on effect into Europe and Asia.
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Tuesday marked Hong Kong’s biggest single-day plunge in over two years according to CNBC, due to sales of shares across Asia as the global crisis reached the 48-hour mark. This was the biggest decrease since 8th July 2015.
The Hang Seng closed yesterday 5.1% down to 30,959.42.
Every other Asian stock market followed suit with the exception of Laos Composite which showed a minimal increase. The Nikkei in Japan declined by 4.7% and the Topic index fell 4.4%.
Each of the 51 stocks on the Hang Seng index experienced a decline with Yang Huiyan’s Country Garden Holdings being hardest hit.
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