Around the World's Markets: Hong Kong

Wednesday 07 July 1999 23:02 BST

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SHARES IN the Hang Seng index were hit by more than HK$5bn (pounds 420m) in placements from two blue-chip stocks. The index ended down 115.17 points or 0.8 per cent at 14,257.44.

Turnover was a hefty HK$16.55bn, up from Tuesday's HK$12bn. Fallers outnumbered gainers by almost two to one.

Traders said the fall was not surprising given the market's solid gains in recent sessions - it rose a total of more than 7 per cent on Friday and Monday.

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