Hong Kong stocks suffer fresh round of hefty losses
Hong Kong stocks tumbled more than three percent on Wednesday as world markets were whipped by fresh recession fears fuelled by central bank interest rate hikes to fight inflation, while traders are also worried about rising tensions between Russia and the West. The Hang Seng Index plunged 3.4 percent, or 609 points, to 17,250, with tech firms and property developers leading the rout. The Shanghai Composite Index shed 1.6 percent, or 48 points, to 3,045, while the Shenzhen Composite Index lost 2.6 percent, or 51 points, to 1,938. (AFP)