Around the World's Markets: HONG KONG

HONG KONG stocks ended sharply lower after a bout of profit-taking. The Hang Seng Index closed down 283.30 points, or 3.47 per cent, at 7,805.45 points. Traders were said to be cashing in shares after three days of successive gains on the market, during which the Hang Seng rose by 12 per cent.

HSBC Holdings, parent of the UK's Midland Bank, was one of the biggest blue-chip fallers. It closed down HK$4.00, or 2.47 per cent, at HK$158.00.