Hong Kong shares open lower after Bhutto assassination, weak US data

Share prices opened lower, tracking the region and Wall Street as the assassination of Pakistan opposition leader Benazir Bhutto stoked worries over political unrest in a key south Asian nation.

Dealers said concerns over the US economy, following weaker-than-expected durable goods orders data, and a fresh rise in oil prices also kept investors cautious.

The settlement of December futures contracts today also weighed on the market.

Bank of East Asia was down despite news that Criteria CaixaCorp, a unit of Spainish bank La Caixa, has agreed to raise its stake in the local lender to 8.89 pct from 4.34 pct.

The Hang Seng index opened down 331.39 points or 1.19 pct at 27,511.54.