Around the World's Markets: Hong Kong

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The Independent Online
THE OVERNIGHT fall on Wall Street sent Hong Kong shares sharply down, as concerns that exports will be hurt reversed recent gains. In brisk trading, the Hang Seng closed at 9,952, a slump of 3.5 per cent.

One bearish trader commented: "the second phase of the emerging market contagion - this time likely to involve South America, Brazil and China - is looming. Any short-term upside potential is definitely capped."

HSBC Holdings dropped 4 per cent to HK$189.