Hong Kong  - Hong Kong shares plunged by more than 4 per cent Tuesday in early trading following heavy overnight losses on Wall Street, as the US economy officially sank into recession.

The blue-chip Hang Seng Index lost 610.16 points, or 4.32 per cent, in the first 15 minutes of trading, tumbling below the 14,000 mark to 13,498.68.

The fall follows follow five consecutive days of gains on the Hong Kong index, the longest positive run since December 2007. Hong Kong shares have now fallen almost

New York  - US stocks plunged by the most in more than a month Monday, erasing about half of last week's rally amid fears of a widening economic slowdown.

Industry figures showed that the US manufacturing sector fell to its lowest level since 1982. The Institute for Supply Management's index fell to 36.2 in October. A reading below 50 marks a contraction.

General Electric Co and Caterpillar Inc both lost nearly 10 per cent on the news.

Hong Kong - Hong Kong stocks rose 1.59 per cent Monday in their fifth straight day of gains, the longest rally for almost a year.

The blue-chip Hang Seng Index climbed by 220.6 points to end the day at 14,108.84 points. Turnover was 43.9 billion Hong Kong dollars (5.66 billion US dollars).

The market was lifted by buoyant property stocks, lifted by reports that a major city property company had sold 300 units in a new development despite a perceived decline in the homes market.

Tokyo  - Tokyo stocks ended trading lower on Monday, with the Nikkei 225 Stock Average losing 115.05 points, or 1.35 per cent, to close at 8397.22 points.

The broader Topix index of all first-section issues was also down by 7.35 points, or 0.88 per cent, at 827.47 points. Traders said markets were still hit by general concerns about the world economy.

On currency markets at midday (0300 GMT), the dollar was quoted at 95.32-37 yen, up from Friday's 5 pm quote of 95.29-32.

The Sensex opened the week on a bearish note after JP Morgan slashed its profit outlook for the fiscal year ending March 2010 for HDFC Bank, ICICI and Axis Bank by between 10% to 30%.

India’s benchmark index, Sensex, saw volatile movements all through the week. But, value buying by investors in a few blue-chips and banking stocks together with short-covering by operators pull the Sensex in the positive zone helping it to cross the 9,000 mark.