Hong Kong - Hong Kong shares fell almost 3 per cent Tuesday as markets across the region reacted to Wall Street falling overnight to a 12-year low.

The blue-chip Hang Seng Index shed 376.58 points, or 2.86 per cent, to end the day at 12,798.52. Turnover was 36.9 billion Hong Kong dollars (4.75 billion US dollars.)

The slump, which followed a 3.75-per-cent bounce Monday, came in response to the overnight crash in US share prices and the growing sense among investors that rescue packages are not working. dpa