Hong Kong Stocks Drop Even After China Cuts Interest Rate
(Corrects date of economic reports in first paragraph.)
Hong Kong stocks fell before reports on China’s inflation and manufacturing tomorrow amid concern the China’s economy is slowing. Shares fell even after the nation’s first interest rate cut since 2008.
The Hang Seng Index slid 0.5 percent to 18,583.70 as of 9:37 a.m. local time, with more than twice as many stocks declining as rising in the 49-member gauge. The Hang Seng China Enterprises Index (HSCEI) of mainland stocks dropped 0.7 percent to 9,410.29.
Hang Seng Index futures expiring this month slid 0.2 percent to 18,476. The HSI Volatility Index gained 1.9 percent to 27.46, indicating traders expect a swing of about 7.9 percent in the benchmark index during the next 30 days.
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