Market Wrap: HSI down 2.4pc, biggest drop in over three month

Hong Kong stocks posted its biggest fall in more than three months on Thursday, tracking the slump in the global market, as investors took profit from previous rally amid concerns about the approaching US fiscal cliff and the ongoing leadership change in China.

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. Up to 47 firms fell on the 49-member index. Turnover jumped to HK$72.66 billion, the highest since September 14.

via Business feed http://www.scmp.com/business/money/stock-talk/article/1077911/market-wrap-hsi-down-24pc-biggest-drop-over-three-month