Stocks dropped again on Monday, sending the benchmark Hang Seng Index (HSI) to its biggest two-day slide since November 2009, after Standard & Poor's cut the US credit rating, raising concern global economic growth will slow.
The HSI fell 2.17 percent to 20490.57 at the close, posting a 6.4 percent two-day decline. All but five stocks retreated in the 46-member gauge. The index fell as much as 4.3 percent before paring declines following the opening of the European markets. The number of shares traded on the Hong Kong Stock Exchange was 201 billion, compared with a daily average of 162 billion this year.
The Hang Seng China Enterprises Index droped 2.81 percent to 11113.45 ahead of the release today in Beijing of key economic reports, including the July consumer price index, which is expected to rise 6.4 percent, according to the average estimate of economists surveyed by Bloomberg. Producer prices and industrial production are also set to be released.
Aluminum Corp of China tumbled 2.7 percent to HK$5.88, and Rusal slumped 4.3 percent to HK$8.85.
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