HK stocks drop on debt crisis concerns
Source: Xinhua |
May 18, 2010, Tuesday
|
Print Edition
Print Edition
HONG Kong shares yesterday fell for the second consecutive trading day to their lowest level in more than three months, tracking drops in other Asian equity markets amid investors' concerns over the debt crisis in European countries.
The Hang Seng index closed down 430.23 points, or 2.14 percent, at 19,715.2.
Turnover totaled HK$67.12 billion (US$8.61 billion), compared with Friday's HK$67.18 billion.
The H-share index, which tracks Hong Kong-listed Chinese mainland companies, tumbled 3.07 percent to end at 11,232.62 points.
Most constituent stocks of the Hang Seng Index fell in the day. Foxconn International, the only constituent stock from Taiwan, had the worst performance by falling 8.4 percent to HK$6.11.
HSBC, one of the world's biggest banks, fell for the third straight trading day, down 2.41 percent to HK$72.80.
Other financial heavyweights also fell yesterday. Shares of ICBC, the world's largest bank by market value, shed 1.92 percent to close at HK$5.61. China Construction Bank, one of the country's four largest state-owned banks, fell 1.9 percent to close at HK$6.20.
Another major lender, the Bank of China, lost 2 percent to close at HK$3.92.
Heavyweight China Mobile, the world's largest telco by subscribers, dipped 0.67 percent to HK$73.95.
Oils and commodity firms also fell amid increasing concerns over weak demand following the outbreak of the debt crisis in Europe.
PetroChina dropped 3 percent to HK$8.50. CNOOC fell 2 percent to HK$12.62.
The Hang Seng index closed down 430.23 points, or 2.14 percent, at 19,715.2.
Turnover totaled HK$67.12 billion (US$8.61 billion), compared with Friday's HK$67.18 billion.
The H-share index, which tracks Hong Kong-listed Chinese mainland companies, tumbled 3.07 percent to end at 11,232.62 points.
Most constituent stocks of the Hang Seng Index fell in the day. Foxconn International, the only constituent stock from Taiwan, had the worst performance by falling 8.4 percent to HK$6.11.
HSBC, one of the world's biggest banks, fell for the third straight trading day, down 2.41 percent to HK$72.80.
Other financial heavyweights also fell yesterday. Shares of ICBC, the world's largest bank by market value, shed 1.92 percent to close at HK$5.61. China Construction Bank, one of the country's four largest state-owned banks, fell 1.9 percent to close at HK$6.20.
Another major lender, the Bank of China, lost 2 percent to close at HK$3.92.
Heavyweight China Mobile, the world's largest telco by subscribers, dipped 0.67 percent to HK$73.95.
Oils and commodity firms also fell amid increasing concerns over weak demand following the outbreak of the debt crisis in Europe.
PetroChina dropped 3 percent to HK$8.50. CNOOC fell 2 percent to HK$12.62.
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