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Hong Kong stocks plunge 3.05 pct

(Xinhua)

14:42, October 18, 2011

HONG KONG, Oct. 18 (Xinhua) -- Hong Kong stocks plunged 575.70 points, or 3.05 percent, to 18,298.29 during Tuesday's morning session due to external turbulence.

The weighted Hang Seng Index opened sharply lower by 2.45 percent after the Dow Jones slid 2.13 percent overnight.

The Hang Seng China Enterprises Index lost 441.78 points, or 4. 48 percent, to 9,411.56.

Heavyweight HSBC shed 1.9 percent to 63.7 HK dollars. China Mobile gave up 1.1 percent to 75.25 HK dollars.

Chinese lender ICBC lost over 4.6 percent to 4.1 HK dollars, and Bank of China was down 3.3 percent to 2.65 HK dollars.

Hong Kong listed developer New World Development tumbled over 14 percent to 7.66 HK dollars after it made a rights issue announcement to raise up to 12.34 billion HK dollars (about 1.59 billion U.S. dollars) on Tuesday.

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