Hong Kong stocks end lower, enter correction phase

HONG KONG: Hong Kong stocks sank Thursday -- entering into a correction phase -- dragged by a sell-off in property firms and as investors tracked losses on Wall Street.

The Hang Seng Index dropped 0.80 percent, or 173.60 points, to close at 21,636.20 -- more than 10 percent down from their recent high seen on September 9.

The benchmark Shanghai Composite Index edged up 0.07 percent, or 2.13 points, to 3,139.56 but the Shenzhen Composite Index, which tracks stocks on China's second exchange, shed 0.13 percent, or 2.66 points, to 1,993.37.