HONG Kong stocks trading in London fell on near panic-selling, sending the Hang Seng Index crashing through the 10,000-point level last night, according to dealers.
The sell-off was part of a global slump in share values as the London FT-SE 100 crumbled 57 points to 3,270, down 1.73 per cent, and Wall Street's Dow Jones industrial average shed 43 points to 3,788, down 1.12 per cent, around lunch-time in New York.
Data showed US economic growth surged to an annual rate of 7.5 per cent in the fourth quarter of last year, the fastest pace in nearly a decade. And the National Association Purchasing Management figures showed manufacturing had risen to its highest level in almost three years.
The Robert Fleming index of stocks traded overnight in London estimated the Hang Seng Index had dropped some 201 points from the Hong Kong close, to 9,948, its lowest level since December 15.
Added to the 261-point fall during Hong Kong trading it means the Hang Seng Index has lost almost 500 points or 4.6 per cent in a day and a half.
In its futures and options bulletin issued yesterday on Hong Kong trading, Jardine Fleming said there was significant bearish sentiment among investors.
