Hong Kong's Hang Seng index closed below 20,000 for the first time since March 2007 yesterday as fears deepened about the global economy, the prospects for the US and its effects on China and the territory.

The Hang Seng closed at 19,933.28, a loss of 6.2 per cent on the week. Even China Huiyuan Juice , which rose 170 per cent on Wednesday after Coca-Cola's HK$17.9bn (US$2.3bn) take-over bid, had fallen 15 per cent from its peak by yesterday's close.