Markets remained nervous about contagion fear following the collapse of Silicon Valley Bank last week and the failure of New York's Signature Bank over the weekend even after the U.
S. government took steps to shore up systemic confidence.
At closing bell, the benchmark Hang Seng Index dropped 448.01 points, or 2.27%, to 19,247.96. The Hang Seng China Enterprises Index declined 151.23 points, or 2.29%, to 6,439.
Among blue chips, HSBC sank 4.7% to HK$53.65, after the bank announced on Monday that it would swoop in to buy SVB's UK subsidiary for a nominal 1. Insurer AIA Group plunged 4.4% to HK$80.75. Alibaba Group Holding dropped 3.9% to HK$80, Baidu fell 3.7% to HK$129 while Tencent slid 0.9% to HK$341.60.
Developer Country Garden plunged 4.3% to HK$2.01 following a profit warning on Monday, while peer Longfor Group lost 5.2% to HK$20.10.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Subscribe to Business Standard Premium
Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!
Insightful news, sharp views, newsletters, e-paper, and more! Unlock incisive commentary only on Business Standard.
Download the Business Standard App for latest Business News and Market News .
RECOMMENDED FOR YOU