Record falls for oil firms

PetroChina Co and CNOOC Ltd plunged by records in Hong Kong trading as the city's benchmark index posted the biggest two-day slump in a decade.

PetroChina, the world's biggest company by market value, dropped 15 percent to HK$9.62, the most since its April 2000 listing. CNOOC fell 13 percent to HK$9.65, the most since its February 2001 debut.

PetroChina, traded in Shanghai and Hong Kong, has lost almost 40 percent of the $1 trillion capitalization reached in November, more than General Electric Co's market value.