Around the World's Markets: Hong Kong

Thursday 22 July 1999 23:02 BST

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STOCKS CLOSED lower, with falls elsewhere in Asia hitting the thin and skittish local market.

The Hang Seng index closed down 50.60 points or 0.38 per cent at 13,369.06.

Dealers said investors were nervous, with many cutting their positions on continued Sino-Taiwan tensions and a sharp fall in the Tokyo market.

"The market is very cautious. Not a lot of investors are participating," said one dealer.

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