RSSNewsletterSiteMapFeedback

Home · Weather · Forum · Learning Chinese · Jobs · Shopping
Search This Site
China | International | Business | Government | Environment | Olympics/Sports | Travel/Living in China | Culture/Entertainment | Books & Magazines | Health
Home / Business / Finance Tools: Save | Print | E-mail | Most Read | Comment
HK stocks plunged 3.9%
Adjust font size:

Hong Kong's benchmark Hang Seng Index plunged 3.9 percent Monday, following regional markets on concerns about the impact of US subprime mortgage crisis.

 

The blue-chip Hang Seng Index fell 3.9 percent, or 1,117.68 points, to close at 27,665.73, after fluctuating between 27,468.00 and 28,071.53, with the total turnover of 139.95 billion HK dollars (17.99 billion HK dollars), up from 133.23 billion HK dollars (17.15 billion HK dollars) last Friday.

 

Three of the four major categories lost ground. The Commerce and Industry tumbled 4.56 percent, followed by the Finance at 4.18 percent and the Properties at 1.84 percent. The Utilities, the only gainer, edged 0.51 percent.

 

The central bank of China Saturday raised the reserve requirement ratio for banks in a bid to curb loan growth. The reserve hike, which will be effective November 26, will require most commercial banks to keep 13.5 percent of deposits with the central bank, up from 13 percent at the moment.

 

HSBC fell 2.8 percent to close at 137.10 HK dollars, after hitting an intraday low of 136.0 HK dollars, as investment banks downgraded their ratings and target price for the stock.

 

Chinese banks led the decline in China-related shares. The Hang Seng China Enterprise Index, tracking H shares of mainland companies, slumped 5.9 percent or 1047.17 points to 16,656.91. ICBC, the country's biggest lender by assets, fell 4.3 percent to 7.51 HK dollars. China Construction Bank dropped 4.3 percent to 7.51 HK dollars.

 

On Chinese telecom stocks front, China Mobile was down 5.55 cent, Netcom down 4.44 percent, China Unicom down 8.62 percent, and China Telecom down 6.46 percent.

 

PetroChina, China Shenhua and China Overseas to be included into blue chips together on December 10 slipped together, down 7.31 percent, 2.71 percent and 5.2 percent respectively.

 

The three insurers moved lower. China Life, Ping An and PICC P & C fell 4.28 percent to 7.07 percent and China Insurance dived 4.91 percent.

 

On resource stocks front, Sinopec Corp and CNOOC plunged 8.23 percent and 6.86 percent.

 

HKEX imminent to release quarterly results was down 6.71 percent.

 

(Xinhua News Agency November 13, 2007)

Tools: Save | Print | E-mail | Most Read

Comment
Username   Password   Anonymous
 
China Archives
Related >>
- HK stocks plunge with record one-day point fall
- HK stocks edges down 0.2 pct on profit taking
Most Viewed >>
-China set to hit the brakes on rising yuan
-Power to resume shortly in worst-hit area by snow
-Macao's gaming market expands further
-Online operators are on top of the game
-Insurance firms set to stump up billions

May 15-17, Shanghai Women's Forum Asia
Dec. 12-13 Beijing China-US Strategic Economic Dialogue
Nov. 27-28 Beijing China-EU Summit

- Output of Major Industrial Products
- Investment by Various Sectors
- Foreign Direct Investment by Country or Region
- National Price Index
- Value of Major Commodity Import
- Money Supply
- Exchange Rate and Foreign Exchange Reserve
- What does the China-Pakistan Free Trade Agreement cover?
- How to Set up a Foreign Capital Enterprise in China?
- How Does the VAT Works in China?
- How Much RMB or Foreign Currency Can Be Physically Carried Out of or Into China?
- What Is the Electrical Fitting in China?
SiteMap | About Us | RSS | Newsletter | Feedback

Copyright © China.org.cn. All Rights Reserved E-mail: webmaster@china.org.cn Tel: 86-10-88828000 京ICP证 040089号