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Stocks

Hong Kong shares slump most this year after tumble on Wall Street

HONG KONG (NewsRise) -- Hong Kong shares headed for their worst loss since mid-December as doubts clouding U.S. President Donald Trump's economic policies sparked sharp losses on Wall Street.

The Hang Seng Index skidded 1.4% to 24,251.14 by midday, setting it on course for its first loss in five days. The gauge's 14-day relative strength index rose above 70 on Tuesday, a level some traders associate with overbought conditions. China Construction Bank (CCB) and Industrial and Commercial Bank of China (ICBC) shed at least 1.9%, while heavyweight HSBC Holdings sank 1.2%.

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