Hong Kong's key stock index plunged Thursday amid persistent worries about the U.S. economy and the global credit crisis, AP reported. The blue-chip Hang Seng Index tumbled 4.8 percent, or 1,121.12 points, to close at 22,301.64. Investors turned cautious about the U.S. Federal Reserve's US$200 billion (¤129 billion) relief plan for tight credit markets. Many see it as a positive step, but one that won't keep the American economy from sliding into a recession. The Dow Jones industrial average slipped 0.4 percent Wednesday after surging 3.5 percent Tuesday. In Hong Kong on Thursday, China Merchants Holdings plummeted 10.9 percent to HK$33.70 and Sino Land fell 10 percent to HK$17.46. New World Development dropped 8.2 percent to HK$17.58 and China Resources fell 9.3 percent to HK$23.80.
