Hang Seng fall

The Hong Kong market plunged a further 155 points to 7,528.88, knocking a further 2 per cent off the market capitalisation yesterday, following a 6 per cent fall last week.

The Hang Seng index has now fallen 38 per cent from the high point a year ago.

In addition to the market's existing worries about rising interest rates, political and economic problems in mainland China and the threat of a trade war between China and the US, in which Hong Kong companies operating in China could lose their main export markets, investors are now worried about the continuing slump in Hong Kong property prices.