Hong Kong stocks fell the most in nearly two weeks on Wednesday, with sentiment hurt by a stumble on Wall Street overnight and more losses on the city’s second board following the previous session’s nearly 10 percent slide. The Hang Seng index fell 0.6 percent to 25,683.50, while the China Enterprises Index lost 0.9 percent to 10,408.19 points.
The fall was in line with most Asian markets after Wall Street was knocked hard in the wake of a delay to a U.S. healthcare reform vote. Sentiment was also soured by a slump in the Growth Enterprise Market (GEM). The start-up board lost nearly 1 percent on Wednesday, having tumbled nearly 10 percent on Tuesday to close at a record low.
Shares of penny stocks such as Greaterchina Professional Services Ltd plunged yet again as investors raced to reduce their exposure to the highly volatile market. Greaterahina Professional lost over 30 percent, after Tuesday’s 93 percent free fall.