HSI Falls 3.3 Percent As Asian Markets Crumble

Hong Kong stocks suffered another painful collapse on Friday morning as a volatile week on global markets drew to a close, with dealers fretting about rising US interest rates.

The Hang Seng Index dived 3.3 percent, or 1,014 points, to 29,436 by the break.

On the mainland, the Shanghai Composite Index sank 4.1 percent, to 3,127 after dipping over 5.5 percent at one point. The Shenzhen Composite Index was down 2.6 percent, at 1,688.

Tokyo stocks dropped more than 3 percent as volatility continued to dog equity markets. The benchmark Nikkei index fell 3.2 percent, to 21,185.76 by the break.

Japan's Nikkei is now at levels not seen since mid-October, Hong Kong is on course to wipe out its 2018 gains and Shanghai is around a seven-month trough.

Elsewhere Sydney fell 1.3 percent, Singapore shed 1.6 percent and Seoul was more than 2 percent off. Wellington, Manila and Taipei were also being battered. (AFP)

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