Hong Kong stocks clawed back some of the losses, but were still in the red on Thursday morning, tracking hefty losses on Wall Street as fears of a global recession grew.

The Hang Seng Index was down 0.2 percent, to end the morning at 25,259. It had started with a slide, dipping below the 25,000 mark as the investors ran for the doors over global economy reports and protests in the city.

On the mainland, the Shanghai Composite Index which opened steeply down also pared some losses, but was still 0.6 percent down by noon break, at 2,791. The Shenzhen Composite Index which had lost over 2 per cent earlier, was down 08 percent, to 1,497.

Tokyo’s key Nikkei index nosedived nearly two percent at the open before recovering slightly to finish the morning 1.2 percent down.

Jakarta fell 0.7 percent while Sydney plummeted more than 2 percent. Singapore also shed 0.9 percent.

“US-China trade tensions have metastasised into something more sinister by affecting global growth to such a large degree that bond markets are pricing-in a high probability of a worldwide recession”, warned Stephen Innes, managing partner at VM Markets. (AFP)

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Last updated: 2019-08-15 HKT 12:56