Hong Kong Stocks Sink As ZTE Is Hammered

Hong Kong shares tumbled more than one percent on Wednesday ahead of a key Federal Reserve decision, while Chinese telecoms equipment maker ZTE was pummelled as it began trading again after a two-month suspension

Hong Kong, (UrduPoint / Pakistan Point News - 13th Jun, 2018 ) :Hong Kong shares tumbled more than one percent on Wednesday ahead of a key Federal Reserve decision, while Chinese telecoms equipment maker ZTE was pummelled as it began trading again after a two-month suspension.

The Hang Seng Index fell 1.20 percent, or 377.91 points, to close at 30,725.15.

The benchmark Shanghai Composite Index gave up 0.97 percent, or 30.00 points, to 3,049.80 and the Shenzhen Composite Index, which tracks stocks on China's second exchange, dropped 1.58 percent, or 27.73 points, to 1,731.43.