Hong Kong stocks slide, but China Eastern surges
HONG KONG (MarketWatch) — Hong Kong stocks fell sharply early Monday, with resource-related stocks such as Aluminum Corp. of China, or Chalco , and PetroChina Co. leading the decline after crude-oil and gold prices dropped on Friday. The Hang Seng Index recently dropped 2% to 17,355.52, while the Hang Seng China Enterprises Index lost 1.6% to 10,410.46. Shares of China Eastern Airlines surged 6.9% in the downbeat market, as trading resumed after the carrier announced an acquisition of rival Shanghai Airlines in a stock swap deal and also raise $1.03 billion in capital via a share sale.
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