Hong Kong - Hong Kong stocks fell 3.47 per cent Monday on growing concerns about the global economic downturn.

The benchmark Hang Seng Index fell 856 points, more than wiping out its 1.9 per cent gain Friday, to close Monday at
23,811.

Turnover was 74.8 billion Hong Kong dollars (9.6 billion US dollars).

Analysts said Wall Street's poor performance Friday, as well as credit concerns and pessimism over upcoming US financial data, spurred the decline.

Hong Kong's currency is pegged to the greenback, making the economy of the former British colony particularly sensitive to negative sentiment on the US economy. (dpa)