Hong Kong - Hong Kong shares slipped 2.4 per cent Wednesday with losses in property company and China banking stocks helping to drag the Hang Seng Index below 20,000.

The index lost 491.33 points to finish the day at 19,999.78, pulling it back to the sub-20,000 level, which it ended last week on for the first time in 17 months.

The combined losses of Tuesday and Wednesday all but wiped out Monday's rebound of more than 4 per cent prompted by the US mortgage bailout.

Analysts said the falls were triggered chiefly by overnight losses on Wall Street and fears that a slowing economy would push down property prices in Hong Kong. dpa