HK stocks drop 2% to 2021 low on Evergrande contagion fears

Hong Kong's Hang Seng index dropped 2% to 24,538.82 points by lunch break, the lowest level since early November.

SHANGHAI: Hong Kong equities dropped about 2% on Thursday to the lowest this year, and China shares sank, as investors dumped property and consumer stocks amid fears China Evergrande Group's financial woes could ripple through the broader economy.

Hong Kong's Hang Seng index dropped 2% to 24,538.82 points by lunch break, the lowest level since early November. The Hong Kong China Enterprises Index lost 2.1%.