HK blue chips down 1.5 pct on US economy worries

(Updates to open)

HONG KONG, Feb 29 (Reuters) - Hong Kong stocks dropped across
the board on Friday, as investors were spooked by signs of more
weakness in the U.S. economy after initial unemployment claims
jumped last week and the latest estimate of economic activity
confirmed slow growth in the last quarter.

Global lender HSBC Holdings (0005.HK) led the blue chips
lower after the Federal Reserve chairman said small banks that
invested heavily in real estate could collapse as the housing
downturn drains their capital.

The benchmark Hang Seng Index .HSI opened down 1.5 percent
at 24,226.83. The China Enterprises Index of Hong Kong-listed
mainland companies .HSCE, or H shares, was down 1.9 percent at
13,780.91.
(Reporting by Rita Chang; Editing by Anne Marie Roantree)