SHANGHAI, March 9 Hong Kong stocks had their
worst day in nearly three months on Thursday, with main indexes
closing at month lows, bruised by a slump in energy and raw
The market, which rebounded roughly 8 percent during the
first two months of the year, is also suffering from growing
selling pressure as risk appetites have been reduced ahead of a
widely-expected U.S. interest rate hike next week.
The Hang Seng index fell 1.2 percent, to 23,501.56,
while the China Enterprises Index lost 1.8 percent, to
All main sectors lost ground, with energy shares
among the worst casualties, after crude prices dived more than 5
percent overnight on a spike in U.S. oil stockpiles.
The Hang Seng materials sector also fell sharply,
down over 3 percent, despite China's producer price index
(PPI)jumping 7.8 percent in February from a year earlier.
But some investors remain bullish on Hong Kong equities in
the long term, citing China's economic recovery that is being
driven by improving fundamentals.
Dutch asset manager Robeco said Hong Kong shares will
benefit from China's economic restructuring, a steady flow of
money from Chinese investors, and the market's modest
(Reporting by Samuel Shen and John Ruwitch; Editing by Richard