Fear of the unknown sparks sell-off in Asian markets

Hong Kong stocks posted their biggest decline in more than three months yesterday, tracking a slump in global markets on concerns over possible political deadlock in Washington and the China leadership change.

The benchmark Hang Seng Index lost 532.94 points, or 2.41per cent, to finish at 21,566.91, below its 20-day moving average. Turnover of HK$72.66 billion was the most since September 14.

"The current unknowns in both the US and China provide a very good excuse for investors to lock in profit," said Castor Pang Wai-sun, head of Core Pacific-Yamaichi.

via Business feed http://www.scmp.com/business/money/markets-investing/article/1078106/fear-unknown-sparks-sell-asian-markets