AROUND THE WORLD'S MARKETS: HONG KONG

STOCKS FELL sharply as Tuesday's US retail sales data sparked fears of another rate rise. The Hang Seng closed 373.43 points or 2.71 per cent at 13,430.60. "We're following Wall Street down," said DBS Securities institutional sales vice president Geoff Galbraith.

Previously unworried local investors were nervous ahead of US August consumer price index data, which turned out to be positive for equities - but too late for the HK market.