LOCAL stocks slid again yesterday with the Hang Seng Index losing 79.75 points to 9,287.90 amid a continuing outflow of foreign capital.
The index has now fallen 745.03 points, or 7.42 per cent, since hitting its year high of 10,032.93 a month ago.
Expectations of poor corporate earnings growth have led US and European fund managers to shift their money away from Hong Kong and other Asian markets.
Hong Kong has suffered more than most due to its links with China where changes to company tax law and austerity measures have soured investor confidence.
Domestic sentiment has also been eroded by darkening prospects for major utility China Light & Power and the flight of investors from Gordon Wu's troubled Hopewell Holdings. See Business Post
