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Nikkei Markets

Hong Kong shares fall as coronavirus fuels recession fears

Geely Auto slides after Chinese carmaker reports drop in 2019 profit

HONG KONG (Nikkei Markets) -- Hong Kong shares fell on Monday as a surge in the number of people infected and deaths from the coronavirus outbreak in Europe and the U.S. escalated fears about a global recession.

The Hang Seng Index lost 1.3% to 23,175.11. Heavyweights Tencent Holdings and HSBC Holdings decreased 1.5% and 2%, respectively, contributing most to the index's losses by points. Geely Automobile Holdings declined 4.1% after the automaker reported a 34.7% drop in 2019 net profit.

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