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Brexit hits firms with heavy exposure to UK

By Luo Weiteng in Hong Kong | China Daily | Updated: 2016-06-25 07:50

With the Britain's divorce from the European Union confirmed on Friday, prominent Hong Kong-listed banks and companies with heavy business exposure to the United Kingdom were battered by a hefty fall in the stock market.

The benchmark Hang Seng Index snapped its five-session streak of gains to tumble by 2.9 percent on Friday, mainly led by the 9.48-percent plunge of London-based Standard Chartered Plc and 6.59-percent slump of London-headquartered HSBC Holdings Plc.

Li Ka-shing's CK Hutchison Holdings Ltd sank 5.07 percent, while Cheung Kong Infrastructure Holdings Ltd and Power Assets Holdings Ltd retreated by 5.48 percent and 4.76 percent, respectively.

Brexit hits firms with heavy exposure to UK

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