Chinese Stocks in Hong Kong Heading for Bear Market Territory

A gauge of Chinese stocks in Hong Kong fell 20 percent from its high for the year after the World Bank cut its global growth forecast and investors mulled the outlook for monetary stimulus.

The Hang Seng China Enterprises Index (HSCEI) sank 3 percent to 9,666.03 as of 9:37 a.m. in Hong Kong, extending losses from a Feb. 1 high to 21 percent, exceeding the 20 percent threshold considered by some investors as defining a bear market. The Hang Seng Index slid 2.5 percent to 20,824.91.

To contact the reporter on this story: Jonathan Burgos in Singapore at jburgos4@bloomberg.net

To contact the editor responsible for this story: Nick Gentle at ngentle2@bloomberg.net

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