0826 GMT - Hong Kong's benchmark Hang Seng Index ended 2.65% lower at 19000.71, as negative sentiment weighed on the market amid the Credit Suisse crisis. Investors around the world were worried--even after UBS Group said it was willing to take over the bank in order to halt a dangerous decline in confidence in the global banking system, and this included concern about Hong Kong banks. HSBC Holdings fell 6.2% and Standard Chartered was down 7.3%. Almost all the stocks in HSI fell. Haidilao International Holding dropped 5.1% and AIA Group declined by 4.2%. Baidu was the only bright spot in the HSI. The Chinese search engine ended 0.9% higher. (bingyan.wang@wsj.com)
(END) Dow Jones Newswires
March 20, 2023 04:26 ET (08:26 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
Comments