Sellers hammered HSBC , airlines and insurance companies morning session

Among companies with the biggest exposure to the U.S. economy, HSBC Holdings (0005), Europe's largest bank, ended the morning session down 7.7 percent to HK$80.75, having fallen as much as 13.1 percent to HK$76. Manulife Financial Corp. (0945), which is based in Canada, plunged 23.4 percent to HK$167 on turnover of HK$15 million versus yesterday's total of HK$2.3 million. Pacific Century Insurance Holdings Ltd. (0065), a unit of Richard Li's Pacific Century Group, dropped 18.3 percent to HK$1.47. China Insurance International Ltd. (0966), which holds the Hong Kong assets of China's oldest insurance company, gave up 17.4 percent to HK$2.725. Airlines were the other industry to suffer. Cathay Pacific (0293), the city's only lone-haul airline, dropped 16.8 percent to HK$6.95. China Southern Airlines Ltd. (1055), one of the three major airlines in the mainland, fell 14.8 percent to HK$1.79. Rival China Eastern Airlines Corp. (0670) dropped 13.9 percent to 87 HK cents. China National Aviation Co. (1110) also plunged 15.4 percent to 99 HK cents.

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