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Hong Kong, Shanghai stocks tumble

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(Globalpost/GlobalPost)

Hong Kong and Shanghai stocks sank on Thursday after data showed manufacturing activity in China contracted for a second straight month in June.

The benchmark Hang Seng Index in Hong Kong ended down 2.85 percent, or 598.27 points, at 20,388.62 on turnover of HK$75.34 billion (US$9.72 billion).

Chinese stocks closed down 2.77 percent. The benchmark Shanghai Composite Index slumped 59.43 points to 2,084.02 on turnover of 68.2 billion yuan ($11.1 billion). The index is at its lowest level since December 13.

dan/dh

http://www.globalpost.com/dispatch/news/afp/130620/hong-kong-shanghai-stocks-tumble-0