Hong Kong Exchanges Sinks Most in 6 Years as Goldman Says Sell
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Hong Kong Exchanges and Clearing Ltd. is on course for its steepest slump since October 2008 after Goldman Sachs Group Inc. advised selling shares of the world’s largest bourse operator amid concern weaker volumes will curb earnings.
The stock plunged 13 percent to HK$226 as of 10:42 a.m. in Hong Kong, extending to 23 percent its decline from a record high in May. Goldman Sachs lowered its price estimate by 26 percent, and cut its recommendation to sell from neutral.