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Nikkei Markets

Hong Kong stocks tumble as virus cases spiral outside China

Power utility CLP slips after impairment charge drags down 2019 net profit

HONG KONG (Nikkei Markets) -- Hong Kong stocks suffered their biggest single-day loss in more than three weeks on Monday as a surge in new coronavirus cases outside China weighed down investor sentiment.

The Hang Seng Index sank 1.8% to 26,820.88, retreating for a third straight day. Among heavyweights, Tencent Holdings and AIA Group dropped 2.6% and 2.2%, respectively. Ping An Insurance Group lost 2.6% after the company reported a 13% decline in accumulated gross premium income for January from its life and health insurance businesses.

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