Hong Kong Stocks fall after Wall Street plunge

Headline shares of the Hong Kong market were lower on Tuesday, 13 November 2018, trimming most of early losses triggered by tracking a drop on Wall Street overnight on news that Apple Inc.'s iPhone parts supplier lowered its earnings guidance. Market losses were, however, limited on tracking gains in Mainland A-Share market after the securities regulator said it will make it easier for companies to buy back shares. In afternoon trades, the Hang Seng Index declined 26.69 points or 0.1% to 25,606.49. The Hang Seng China Enterprises Index increased by 31.84 points or 0.3% to 10,408.50.

OFFSHORE MARKET NEWS: US stocks closed in negative territory on Monday, weighed by a notable drop in shares of Apple after iPhone parts supplier Lumentum cut its fiscal second quarter guidance, adding to recent concerns about iPhone demand. The Dow Jones Industrial Average fell 602.12 points, or 2.32%, to 25,387.18, the S&P 500 lost 54.79 points, or 1.97%, to 2,726.22 and the Nasdaq Composite dropped 206.03 points, or 2.78%, to 7,200.87.

European share market also closed down on Monday. The U.K.'s FTSE 100 Index dropped by 0.9% and 0.7%, respectively. The German DAX Index plunged by 1.8%.

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