HK stocks down by midday, telcos hit by Nortel

Newswire

(Updates with midday levels) HONG KONG, Aug 29 (Reuters) - Hong Kong stocks were lower by midday on Thursday with telecommunications stocks taking a beating after a bleak outlook for the sector from Canadian telecoms equipment giant Nortel Networks Corp . Property stocks also continued to draw selling on concern that price discounting will accelerate in the next few months as more new flats are readied for sale, "People are definitely being more conservative generally, and sentiment ...

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