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China, Hong Kong stocks fall as commodity prices drop
March 9, 2016 / 2:46 AM / 2 years ago

China, Hong Kong stocks fall as commodity prices drop

SHANGHAI, March 9 (Reuters) - China and Hong Kong stocks fell on Wednesday morning, dragged down by resources and energy shares, as a tumble in commodity prices soured market sentiment and prompted investors to take profits after the solid rally recently.

China’s benchmark indexes were poised to break their six-session winning streak.

The CSI300 index was down 2.2 percent at 3,040.33 points at 0238 GMT, while the Shanghai Composite index was lower by 2.3 percent, at 2,834.37 points.

The Hang Seng index in Hong Kong was off 0.7 percent at 19,864.60 points.

An index tracking non ferrous metals prices in Shanghai dropped sharply, amid increasing concerns that the recent rebound in prices of steel, copper and other commodities is not justified by persistent economic weakness. (Samuel Shen and Nathaniel Taplin; Editing by Savio D‘Souza)

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