Hong Kong stocks plunge 4% as global economy concerns play out

Biggest daily drop in six months looms for Hong Kong markets opening after the lunar New Year break

Hong Kong's stocks took a battering on Thursday, with the benchmark index falling 4% in late morning trade as worries about the health of the global economy, particularly China, sparked a sell-off in financials and energy shares.

Stocks were set for their biggest daily drop in six months after they reopened from a three-day break, catching up with global peers. China-related stocks and banks were singled out for special punishment.

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