Hong Kong shares open 2.57% lower
Hong Kong shares opened 2.57% lower today, in line with regional markets, after Standard & Poor's historic downgrade of the US credit rating last week.
The benchmark Hang Seng Index shed 538.28 points to 20,407.86.
S&P said late Friday that it had cut Washington's rating from the top-notch AAA to AA+ for the first time, adding to mounting concerns over the US and global economy.
The downgrade compounded global losses earlier on Friday that were caused by eurozone debt worries and predictions that Italy and Spain could soon need to be bailed out.