Around the World's Markets: Hong Kong

STOCKS CLOSED lower, rattled by rising China-Taiwan tensions and a fall in China's GDP. The Hang Seng Index fell 213 points, or 1.55 per cent to close at 13,545.24.

Taiwan's abandonment of its commitment to the "one China" policy has enraged China, alarming investors already worried by a slowing in China's economic growth. China's GDP grew 7.6 per cent year-on-year in the first half of 1999. This compared with annual growth of 7.8 per cent last year.