The Hong Kong stock market is suffering Thursday, shedding 4 percent on its first day of trade this week. The market was closed Monday through Wednesday for the Lunar New Year holiday and markets elsewhere in China will remain closed until Monday.

Hang Seng dropped 4 percent to finish at 18,546. Esprit lost 3.4 percent to end at 7.43 Hong Kong dollars while Chow Tai Fook shed 1.1 percent to finish at 4.65 Hong Kong dollars. Li & Fung inched down 0.43 percent to 4.60 Hong Kong dollars. Prada bucked the trend, gaining 5.9 percent to end at 25.35 Hong Kong dollars.

Tokyo’s Nikkei 225 also felt downward presssure for the third straight day. It lost 2.3 percent to end at 15,713 after shedding 2.3 percent on Wednesday and 5.4 percent on Tuesday.

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