Hong Kong stocks drop as IMF flags deep global recession

Hong Kong’s benchmark
share index ended lower on Wednesday as forecast of a deep
recession this year by the International Monetary Fund
outweighed a monetary stimulus from China’s central bank.
** At the close of trade, the Hang Seng index was down
290.06 points, or 1.19%, at 24,145.34. The Hang Seng China
Enterprises index fell 1.25% to 9,724.7.
** The sub-index of the Hang Seng tracking energy shares
dipped 3.8%, while the IT sector rose 0.32%,
the financ