REFILE-HK shares slide 3.2 pct to 15-wk low; HKEx tumbles

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HONG KONG, July 8 (Reuters) - Hong Kong shares slid 3.2 percent on Tuesday, with all stocks in the main index in the red, as jittery investors dumped blue chips on fears of more losses at U.S. financials and amid a lack of market-boosting steps from China.

Shares in HSBC Holdings (0005.HK: Quote, Profile, Research) fell 2.4 percent to a 4-1/2-month low after Lehman Brothers warned of further capital raising at the top two mortgage providers in the United States, raising fresh doubts about the state of the credit market.

Bourse operator Hong Kong Exchanges & Clearing Ltd (HKEx) (0388.HK: Quote, Profile, Research) also weighed, tumbling 5.9 percent to its lowest level since mid-August 2007 as analysts slashed their target price on the stock amid dwindling turnover. [ID:nHKF079283]

Foxconn International Holdings (2038.HK: Quote, Profile, Research), the worst performing stock on the Hang Seng Index this year, slid 10.3 percent to a three-year low after CLSA downgraded it to sell from underperform as it faces weakening handset demand.

The benchmark Hang Seng Index .HSI closed down 692.25 points at 21,220.81, a 15-week low. Mainboard turnover rose to HK$63.7 billion ($8.2 billion) from HK$59.9 billion on Monday.

"Investors are nervous ahead of the big corporate earnings in the U.S.," said Patrick Yiu, associate director at CASH Asset Management.

"On Monday, Hong Kong climbed along with the A-share market but today we are back to worrying about the credit crisis."

The benchmark index gained 2.3 percent on Monday, rising the most in 13 weeks, as Chinese banks and property stocks rallied amid talk of policy-boosting measures.