5:07 pm - Friday May 18, 2012

Hong Kong shares slump 2.11%

Hong Kong shares fell 2.11 percent on Tuesday on concerns over tensions in Libya, while Shanghai posted its heaviest loss in more than a month amid fears of new monetary tightening in China.

The benchmark Hang Seng Index in Hong Kong shed 494.61 points to end at 22,990.81 on turnover of HK$73.10 billion ($9.40 billion).

“We can only talk about the support level now because global markets are falling like a rock,” Francis Lun, general manager at Fulbright Securities, told Dow Jones Newswires.

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