Hong Kong stocks suffered their biggest one-day drop in more than three weeks on Friday as traders were rattled by a report that billionaire investor George Soros, a noted China sceptic, was making big, bearish bets again.
The Hang Seng index lost 1.2 percent to end the day at 21,042.64 points, its biggest daily percentage decline since May 18. Still, the benchmark index ended the week up half a percent, its fourth consecutive week of gains.
The Wall Street Journal reported on Thursday that Soros Fund Management has expressed concern about the global economic outlook, China capital flight, reserve depletion, and internal politics, though it gave few details of its market bets.
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The Hang Seng index lost 1.2 percent to end the day at 21,042.64 points, its biggest daily percentage decline since May 18. Still, the benchmark index ended the week up half a percent, its fourth consecutive week of gains.
The Wall Street Journal reported on Thursday that Soros Fund Management has expressed concern about the global economic outlook, China capital flight, reserve depletion, and internal politics, though it gave few details of its market bets.
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