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AP National Business

Hong Kong, Shanghai shares sink as virus trumps strong data

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Published 2:01 AM

By ELAINE KURTENBACH
AP Business Writer

BANGKOK (AP) — Share prices in China have tumbled, with Hong Kong’s Hang Seng index down almost 6% and the Shanghai Composite index sinking 5%. The sell-off gathered pace Tuesday afternoon despite the release of upbeat economic data earlier in the day. Stocks also fell elsewhere in Asia and oil prices slid further as Russian forces pounded the Ukraine capital ahead of another round of talks between the two sides. Markets remain jumbled as investors try to gauge various economic impacts from the war in Ukraine, upcoming rate hikes by central banks and new virus lockdowns in China. The lockdowns and rising numbers of COVID cases are adding to worries over disruptions to manufacturing and trade. 

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