Markets: News  

Hong Kong stocks drop after ECB; Hutchison falls

HONG KONG (MarketWatch) -- Hong Kong stocks opened lower Friday after global markets dropped in disappointment over the European Central Bank's policy decision, with losses spread across several sectors. The Hang Seng Index dropped 0.8% to 19,531.07 and the Hang Seng China Enterprises Index gave up 1% to 9,573.76. Shares of ports operator Cosco Pacific Ltd. shed 2%, New World Development Co. shed 2.3%, footwear major Belle International Holdings Ltd. gave up 2.6% and coal miner China Shenhua Energy Co. declined 1.9%. Property firm Cheung Kong Holdings Ltd. rose 0.6% and conglomerate Hutchison Whampoa Ltd. dropped 1.5% after their respective half-yearly results. China's Shanghai Composite was little changed, supported by a state-media report that the country's securities regulator is studying the possibility of lowering the stamp duty for stock trading, and by comments from a People's Bank of China official that stabilizing growth would now be a bigger priority at the central bank.