Hong Kong shares slump in opening trade after Wall St slide, regional fall |
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Fri, 26 Jan 2007 03:36
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HONG KONG (XFN-ASIA) - Share prices plunged in opening trade due to caution following Wall Street's biggest pullback in two months and subsequent falls in early Asian equities trade, dealers said.Profit-takers cashed out of the market ahead of the weekend, spooked by the triple-digit decline in the Dow Jones industrials average overnight due to lackluster home sales report and a disappointing bond auction, followed up by a sharp 92.50-point drop in the Nikkei 225 index at the end of Tokyo's morning session, they said.Blue chips in Hong Kong were regarded as too expensive at current levels after recent rallies, they added.The Hang Seng index opened down 212.35 points or 1.03 pct at 20,457.48.roby.lau@xfn.comrl/net
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