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HK shares open down 2.5 pct on U.S. worries

Thu Jun 26, 2008 9:59pm EDT

Stocks

   

HONG KONG, June 27 (Reuters) - Hong Kong shares will open down 2.5 percent at their lowest level in more than three months on Friday, as investors take their cue from a slide on Wall Street and dump refiners and airline stocks amid record oil prices.

Export-oriented stocks, including Li & Fung (0494.HK) and Foxconn (2038.HK), added to Thursday's slump, with investors rapidly losing confidence in the U.S. economy.

The Hang Seng Index .HSI opened 554.40 points lower at 21,901.27.

Only two of the index's 43 components opened higher.

The China Enterprises Index .HSCE fell 3 percent on growing worries over another likely interest rate increase on the mainland. (Reporting by Parvathy Ullatil; Editing by Anne Marie Roantree)



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