Hong Kong -  Hong Kong shares fell to a two-week low Wednesday amid fresh concerns over the banking sector and jitters over liquidity in the Chinese economy.

The blue-chip Hang Seng Index fell 407.44 points or 2.67 per cent to 14,878.45. Turnover was 67.8 billion Hong Kong dollars (8.74 billion US dollars.)

The decline followed a fall of nearly 3 per cent Tuesday and was spurred by losses posted by the Bank of America overnight and a fresh round of job cuts by HSBC in Hong Kong.

Losses accelerated Wednesday afternoon as market speculation grew that China's central bank was reducing liquidity amid reports of a sharp fall in loans issued by the country's main lenders. (dpa)