Hong Kong shares end morning lower as banks, commodity stocks slide - UPDATE

HONG KONG (XFN-ASIA) - Share prices finished the morning session sharply lower led by banks and commodity stocks amid fresh worries over credit markets and the US economy. Banks tracked the sector's slump on Wall Street after weaker-than-expected US home sales data, and following news of additional 830 mln aud provision by Australia's largest bank for collateralised debt obligation (CDO) exposure. Oil firm CNOOC and Aluminum Corp of China (Chalco) led commodity firms lower on concerns that slower US economic growth could affect demand for energy and raw materials. China coal miners extended yesterday's losses after mainland authorities said they will tighten controls on spot coal prices. The Hang Seng index ended the morning down 446.68 points or 1.93 pct at 22,641.04, off a low of 22,622.68 and high of 22,843.20. Turnover... [read full story]