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Hong Kong Stocks tumble 2%

Hong Kong Stocks tumble 2%

HONG KONG: The Hong Kong stock market finished lower for third straight session on Friday, 11 August 2017, as investor sentiment succumbed to tensions between the U.S. and North Korea. The market also took a huge knock from technology giant Tencent, after news emerged that its successful messaging app, WeChat, and two other Chinese tech heavyweights are being probed by the government.

The Hang Seng Index slid 2% or 560.49 points at 26,883.51, capping a weekly loss of 2.5%, its worst in 2017. The Hang Seng China Enterprises Index also fell 1.9% or 209.23 points to 10,572.97. Turnover increased to HK$139.4 billion from HK$122 billion on Thursday.