Hong Kong stocks fall, led by China Mobile
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Hong Kong stocks fall, led by China Mobile

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Posted by Hong Kong on Mon, 2008-05-26 10:53
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Hong Kong stock fell 1.94 percent on Monday, tracking weak overseas markets, as soaring oil prices rekindled worries over inflation and its impact on global economic growth.

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The benchmark Hang Seng Index .HSI opened down 479.72 points at 24,234.35, led by a 5 percent drop in China Mobile (0941.HK: Quote, Profile, Research) after it was downgraded amid an unfavourable telecom industry reshuffle. The blue chip index had dropped 1.8 percent as of 0201 GMT.

The China Enterprises Index of Hong Kong-listed companies , or H shares, had slid 2.57 percent by 0203 GMT.