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Hong Kong stocks tumble 4.35%

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Hong Kong stocks tumble 4.35% [CFP]

Hong Kong stocks dived 485.32 points, or 4.35 percent, to open at 15,065.59 on Tuesday, tracking Wall Street's sharp decline overnight.

Among the 42 constituents of the benchmark Hang Seng Index, only two utilities companies CLP Holdings and Hong Kong Electric rose.

On Wall Street, major indexes fell sharply Monday, as investors had doubts about banks' first quarter profit reports, and sold financial stocks to lock in profits from a strong six-week rally.

The Dow Jones industrial average lost 3.56 percent to 7,841.73, while the broader Standard & Poor's 500 index fell 4.28 percent to 832.39.

(Xinhua News Agency April 21, 2009)

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