Hong Kong market sinks as China PMI data worsen

Hong Kong stock market ended sharply lower on Tuesday, 01 September 2015, dragged down by concerns over the pace of China's economic growth and its potential implications for the rest of the world after China's official and private sector PMI gauges showed weakness across manufacturing and service industries. The Hang Seng Index (HSI) opened up 22 points at 21,692, which marked the intra-day high. It closed down 101 points in morning session, and saw its losses widen to close to 500 points at one stage in afternoon session when HKD exchange rate rose to the strong side of the convertibility undertaking. The Hang Seng Index ended down by 485.15 points, or 2.24%, at 21185.43 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, sank 287.30 points, or 2.95%, to 9454.11 points. Turnover reduced to HK$94.5 billion from HK$113 billion on Friday. Turnover reduced to HK$85.8 billion from HK$94.5 billion on Monday.

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