HONG KONG, March 2 (Reuters) - Shares in Manulife Financial Corp <0945.HK> slid more than 11 percent, falling to its lowest level since October 2002, hurt by tumbling global stock markets and the ailing credit sector.
Shares in Canada's largest insurer were down 11.6 percent at HK$79.50 by 0258 GMT.
The stock plunged 9 percent on the Toronto exchange on Friday after RBC Capital Markets downgraded the insurer <MFC.TO> to "sector perform" from "outperform" on the continued decline in the global equity markets and a lack of visibility on its earnings.
RBC said the company's key regulatory capital ratio -- the minimum continuing capital and surplus ratio (MCCSR) -- had fallen "to the low end of management's current target range, which we believe to be 200 percent given greater sensitivity to equity market movements."
