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Shanghai, Hong Kong tumble after two-day rise

Shanghai, Hong Kong tumble after two-day riseHONG KONG: Shares in Hong Kong and Shanghai retreated Thursday after a two-day rally, following mixed inflation data out of China while investors are also fretting over the Federal Reserve’s plans for raising interest rates.

In Hong Kong the Hang Seng Index slipped 2.57 percent, or 568.81 points, to close at 21,562.5.

Shanghai’s benchmark composite index lost 1.39 percent, or 45.20 points, to end at 3,197.89.

The Shenzhen Composite Index, which tracks stocks on China’s second exchange, fell 1.58 percent, or 28.46 points, to 1,770.38 on turnover of 311.1 billion yuan.

Copyright AFP (Agence France-Presse), 2015

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