Business

Hong Kong and Shanghai shares end lower

HONG KONG: Shares in Hong Kong and Shanghai tumbled Thursday after China set its 2015 economic growth target at “approximately seven” percent, which would be its worst performance in a quarter of a century.

The benchmark Hang Seng Index fell 1.11 percent, or 272.43 points to 24,193.04 on turnover of HK$92.13 billion ($11.89 billion).

In mainland China the benchmark Shanghai Composite Index fell 0.95 percent, or 31.05 points, to 3,248.48 on turnover of 373.6 billion yuan ($59.6 billion).

However, the Shenzhen Composite Index, which tracks stocks on China’s second exchange, rose 0.27 percent, or 4.53 points, to 1,677.77 on turnover of 355.8 billion yuan after the government announced it is planning a trading link-up with Hong Kong. -AFP

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