Fin24

Stocks down after Japan quake

2011-03-11 09:17

Hong Kong - Hong Kong stocks slipped 1.8% in early afternoon trade as the Japanese market fell following a strong earthquake off Japan's northeast coast.

Brokers said panic selling pulled down the market before bargain hunters emerged, helping the benchmark index trim losses slightly to 1.5% as of 08:35.

The yen tumbled against the dollar after a powerful quake struck Japan and triggered a tsumami warning.

The yen fell to ¥83.30 against the dollar from ¥82.81 before the quake struck.