Hong Kong stocks tumble to three-week low as PBOC dents easing bets, China Merchants Bank sinks on executive removal | South China Morning Post

Hong Kong stocks tumbled by the most in three weeks after China's central bank signalled it's not ready to unleash its full policy easing power to revive a faltering economy. China Merchants Bank crashed after removing its top executive without giving a reason. The Hang Seng Index retreated 2.6 per cent to a one-week low of 20,950.83 as of 10.20am local time, as the market reopened after a two-day holiday break. The Tech Index weakened 3.6 per cent, while the Shanghai Composite Index was little changed. China Merchants Bank led losses as the lender sank 11 per cent to HK$53.10….