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Tuesday, April 18, 2017, 16:50

Hong Kong stocks post biggest fall in 4 months

By Reuters

Hong Kong stocks post biggest fall in 4 months
A trader puts on his jacket as he leaves the floor of the stock exchange after the start of the Shenzhen-Hong Kong Stock Connect on Dec 5, 2016. (Anthony WALLACE / AFP)

Hong Kong stocks closed at a one-month low after posting their biggest percentage drop in four months, as investors returning from their holiday break had their first chance to react to escalating tensions over the Democratic People's Republic of Korea (DPRK).

Sentiment was also hurt by deepening worries over the sustainability of Chinese mainland's economic recovery

Sentiment was also hurt by deepening worries over the sustainability of Chinese mainland's economic recovery, with financial and resource shares leading the market decline.

The Hang Seng index fell 1.4 percent, to 23,924.54, while the China Enterprises Index lost 1.6 percent to 10,043.52 points.

Following DPRK's failed missile launch on Sunday, tensions have escalated amid concerns that the isolated state may soon test another nuclear bomb or missile.

Shares fell across the board.

An index tracking commodity shares fell 1.5 percent while the finance sector also dropped 1.5 percent.

But consumer shares, largely viewed as defensive in nature, suffered the least, down only 0.7 percent

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