Hang Seng tumbles 3.2%

The Hong Kong stock market declined on Monday, 18 April 2016, with commodity-linked stocks leading retreat after talks between major producers to freeze oil output collapsed over the weekend. The benchmark index opened down 186 points at 21,129 after a deal to freeze oil output by oil-producing countries fell apart on Sunday in Doha, leading to the plunge of oil prices. It then saw its losses widen to more than 300 points, but recovered half of its losses on buying at late afternoon. The benchmark Hang Seng Index declined 154.97 points, or 3.19%, to 21161.50 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, erased 124.13 points, or 1.35%, to 9090.85 points. Turnover reduced to HK$55.5 billion from HK$59 billion on Friday.

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