Hong Kong stocks fell sharply in early Thursday trade, as key Chinese consumer-price data surprised to the upside, making much-awaited policy easing less likely in the short term.
The Hang Seng Index fell 1.1% to 20,792.05, with the Hang Seng China Enterprises Index down 1.6%, and over on the mainland, the Shanghai Composite slipped 0.5%.
Financials were among the leading decliners, as Bank of China Ltd. fell 1.8%, Bank of Communications Co. dropped 2%, and Agricultural Bank of China Ltd. surrendered 1.5%. Shares of Lenovo Group Ltd. fell a more modest 0.2%, outperforming the broader market after posting 54% quarterly profit growth.
Copyright © 2012 MarketWatch, Inc.
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