HONG KONG, March 3 Hong Kong shares suffered
their biggest one-day loss in a month on Monday, with riskier
sectors taking the brunt of the selloff as oil prices jumped on
escalating tensions after Russia bloodlessly seized a part of
The Hang Seng Index finished down 1.5 percent at
22,500.7 points in its biggest one-day loss since Feb. 4. The
China Enterprises Index of the leading offshore Chinese
listings in Hong Kong sank 1.4 percent.
Losses on the day also came as separate surveys showed
China's services sector regaining some momentum while its
factories continued to struggle in February, potentially
complicating economic reform efforts.
The National People's Congress starts on Wednesday in
Beijing. During the meeting, China's national economic growth
target for the year and other economic priorities are expected
to be announced.
Sun Art Retail shares, which closed on Friday at
its lowest since late July 2012, soared 7.1 percent after the
China-focused hypermart operator posted a 15.2 percent rise in
2013 net profit, in line with market consensus.