Hong Kong Stocks Slump After Credit Downgrade

Hong Kong shares plunged on Tuesday after Moody's downgraded the city's credit rating, while tourism-linked firms were hit by fears over a SARS-like virus that has spread from China to other countries

Hong Kong, (UrduPoint / Pakistan Point News - 21st Jan, 2020 ) :Hong Kong shares plunged on Tuesday after Moody's downgraded the city's credit rating, while tourism-linked firms were hit by fears over a SARS-like virus that has spread from China to other countries.

The Hang Seng index tumbled 2.81 percent, or 810.58 points, to close at 27,985.33.

The benchmark Shanghai Composite Index fell 1.41 percent, or 43.65 points, to 3,052.14 and the Shenzhen Composite Index, which tracks stocks on China's second exchange, lost 1.28 percent, or 23.42 points, to end at 1,806.54.