Around the World's Markets: Hong Kong

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STOCKS CLOSED lower as the market was dogged by concerns that a number of blue chip companies were planning to launch major share placements.

The Hang Seng index fell 80.91 points, or 0.58 per cent, dipping through 14,000 to end at 13,980.93.

The Hang Seng index has fallen for six successive days, and traders said it may have found a new trading range.

"The old range was 14,000 to 14,500 but maybe we'll change that to 13,800 to 14,400," said one analyst.