Around the World's Markets: Hong Kong

Friday 27 August 1999 23:02 BST

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THE HANG SENG index ended down 225.25 points, or 1.66 per cent, at 13,383.13, ahead of the release of GDP data. Shortly after the markets closed the Hong Kong Association of Banks raised the deposit rate by 25 basis points at its weekly meeting.

A late spurt of selling dragged the market down. Traders blamed it on European investors unloading stock after Thursday's fall in the Dow Jones and because of weaker than expected earnings from Hutchison Whampoa and Cheung Kong.

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