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CORRECTED - CORRECTED-HK shares at 3-yr low; worst weekly loss in 11 yrs

Fri Oct 10, 2008 4:13am EDT
 
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(Corrects second graph to show point change was 3,000 not 300)

HONG KONG, Oct 10 (Reuters) - Hong Kong shares sank 8 percent to a nearly three-year low on Friday, mirroring devastating sell-offs in markets across the globe as investors worried about the risks of a global recession.

The main index dropped more than 17 percent, or 3,000 points, in its worst weekly percentage drop since the market meltdown of 1997.

The benchmark Hang Seng Index .HSI unofficially closed down 1267.43 points at 14,675.81, its lowest close since November 2005.

The China Enterprises Index .HSCE of top locally listed mainland Chinese companies plunged 9.1 percent to end at 7,042.20.

(Reporting by Parvathy Ullatil; Editing by Ken Wills)

 

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