Hong Kong Stock Index Tumbles Amid U.S., China Growth Concerns

Hong Kong’s Hang Seng Index fell to its lowest close since 2009, on concern China’s economy is slowing and after U.S. consumer spending weakened amid a drop in incomes in the world’s largest economy.

Techtronic Industries Co., maker of Ryobi power tools that counts North America as its largest market, sank 8.3 percent. Ping An Insurance Group Co., China’s No. 2 insurance company by market value, tumbled 13 percent. Jiangxi Copper Co., China’s No. 1 producer of the metal by market value, dropped 12 percent after commodity prices declined. Macau casino operator Galaxy Entertainment Group Ltd. tumbled 19 percent on concern growth will slow.