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HONG KONG, Jan 20 (Reuters) - Hong Kong’s Hang Seng Index closed at its lowest level in 3-1/2 years on Wednesday and its currency tumbled as investors were rattled by fears over capital outflows, a slowing global economy and crumbling oil prices.
The Hang Seng Index fell 3.8 percent, to 18,886.30, its lowest level since late July 2012. THe Hong Kong property sub-index slid 4.9 percent.
The Hong Kong dollar fell for a fifth consecutive day to its weakest level in more than eight years, with a sharp drop in currency forwards suggesting more weakness was in store.
Reporting By Anne Marie Roantree; Editing by Shri Navaratnam