Published on ShanghaiDaily.com (http://www.shanghaidaily.com/)
http://www.shanghaidaily.com/sp/article/2008/200806/20080604/article_361885.htm
HK stocks fall
Created: 2008-6-4
HONG Kong stocks fell for the first time in four days on renewed concern that credit losses will widen and slow global economic growth. HSBC Holdings Plc and Industrial & Commercial Bank of China Ltd dropped after Standard & Poor's cut its ratings on three of Wall Street's biggest firms.
The Hang Seng Index fell 455.60, or 1.8 percent, to 24,375.76 at the close, ending a three-day, 2.4 percent advance, after S&P cut its ratings on Morgan Stanley, Merrill Lynch & Co and Lehman Brothers Holdings Inc by one level.
The Hang Seng Index fell 455.60, or 1.8 percent, to 24,375.76 at the close, ending a three-day, 2.4 percent advance, after S&P cut its ratings on Morgan Stanley, Merrill Lynch & Co and Lehman Brothers Holdings Inc by one level.
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