Hong Kong market slips 1%

The Hong Kong stock market skidded on Wednesday, July 22, 2015, on following the decline of European and the US equity markets overnight. The selloff pressure intensified after MNI's China Business Sentiment Indicator for July falls to a three-month low. Most of the index heavyweights declined, with telecom and brokerage stocks leading losers. The benchmark opened 134 points lower and saw its losses widen to 358 at one stage. The Hang Seng Index ended down 253.81 points, or 1%, to finish at 255282.62 points, off an intra-day high of 25401.79. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, retreated 137.27 points, or 1.16%, to 11734.27 points. Turnover increased to HK$81.7 billion from HK$80.8 billion on Tuesday.

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