Around the World's Markets: Hong Kong

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STOCKS CLOSED sharply lower, with the Hang Seng index ending 2.38 per cent off at 9,809.2, amid worries about the fall in Tokyo and the strength of yen.

"Volatility is high and turnover low and we expect this to continue for the next few days," said Gordon Leung at Cresvale Far East. Brokers said there was little institutional action because funds did not want to increase dollar-linked positions before seeing the trend in the euro.