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Summary The Hang Seng Index in Hong Kong eased 1.32 percent, or 275.06 points, to 20,501.64 by the break
HONG KONG (AFP) - Hong Kong and Shanghai stocks sank Friday morning as profit-taking and a cut to the outlook for China s credit rating overshadowed a surprise jump in a gauge of the country s manufacturing activity.
The Hang Seng Index in Hong Kong eased 1.32 percent, or 275.06 points, to 20,501.64 by the break.
And the benchmark Shanghai Composite Index dropped 1.42 percent, or 42.70 points, to 2,961.22, while the Shenzhen Composite Index, which tracks stocks on China s second exchange, lost 1.89 percent, or 36.10 points, to 1,876.11.
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