Market Report - Hong Kong Shares, Commodities Fall

Chan/Zhang
WEB POSTING DESCRIPTION: With Tokyo markets shut, Hong Kong shares fell ahead of a long holiday weekend. Commodities crumble as investors shun risk.


ZHANG: Asia stocks fell on Thursday with Hong Kong-listed China plays among the worst performers. While Tokyo markets were closed today, Hong Kong's Hang Seng fell 3.5 percent.

Renewed fears about a U.S. recession haunted investors along with a sharp fall on Wall Street.

Weak results from energy producer PetroChina weighed on Hong Kong's Hang Seng Index. The Chinese oil giant posted only a small rise in second half earnings with losses in its refining division.

Sliding gold prices also hurt resource shares across the region. Australia's BHP Billiton slumped more than 8 percent in a shortened trading session ahead of the Easter holiday. The S&P/ASX200 lost just over 3 percent at the end of the trading day.

On the upside, Korean exporters such as Samsung eked out gains thanks to a weakening Won currency, but overall, the KOSPI ended flat.

In Taiwan, markets rose ahead of weekend elections, with the TAIEX gaining 1.9 percent.

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