Hong Kong  - Hong Kong's Hang Seng Index crashed back through the 13,000 barrier Tuesday as growing gloom over economic prospects forced prices down by almost 4 per cent.

The blue-chip index shed 510.48 points, or 3.79 per cent, to end the day at 12,945.4, the first time it has slipped below 13,000 since early February. Turnover was 41.7 billion Hong Kong dollars (5.3 billion US dollars).

The downward trend was driven by fears that companies will cut their dividends because of weak earnings and mirrored regional losses which saw Japan's Nikkei index fall to a three-month low. (dpa)