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Revival may wait until after Games as stocks plunge
Hong Kong stocks plunged 2.1 percent yesterday to hit a new one-year low, as the recent wave of selling spread to Hong Kong banks and property plays.
First Shanghai Securities strategist Linus Yip Sheung-chi said The Hang Seng Index may fall below 20,000 in the short term after dropping 446.3 points to end the day at 20,484.37. "There is no buying interest in the market," said Tung Tai Securities associate director Kenny Tang Sing-hing, adding that the market may not see a revival until after the Olympics.read source article