Around the World's Markets: Hong Kong

Monday 19 October 1998 19:02 EDT

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THE HANG SENG index fell 1.8 per cent to 9599.05 amid concerns that last week's 15 per cent rally was not justified by earnings potential.

Banks and property stocks paced the decline, with HSBC Holdings, the London-based parent of Hong Kong's two largest banks, falling 1.4 per cent.

China-related stocks bucked the downward trend, after China said on Friday its economy grew at an annual rate of 7.6 per cent in the third quarter, prompting hopes of a mainland rates cut.

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