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| Hong kong Market Update Archive: |
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HK Retail Sales Rise, Hang Seng Drops 3%
Oct 03, 7:18 AM ET |
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| Hong Kong retail sales in August rose 10.4% and in the first eght months gained 15% in value and 8.3% in volume. Hang Seng index declined nearly 3% as persisten troubles in the U.S. credit markets will slow down the China region economy. |
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HK Stocks Fall 19% in the Quarter
Sep 30, 5:52 PM ET |
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| China markets recovered from earlier losses in the day and managed to close higher. The HKMA added liquidity to the system and issued revised guidelines for collateral requirements from Monday. Banks closed higher in trading. Shipping companies fell as freight index declined. |
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Hong Kong Stocks Plunge 4%
Sep 29, 9:11 PM ET |
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| Stocks in Hong Kong plunged after investors worried that the widening credit market crisis in the U.S. may slowdown Chinese exports. China suspended iron ore imports from Brazil, after miner Vale raised prices by 11%. Sun Hung Kai dropped 5% after HSBC raised mortgage rates. |
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Ping An Drops 10%, Beijing Airport Net Down 90%
Sep 26, 3:33 PM ET |
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| Hong Kong stocks fell as credit markets weaken in the U.S. and Europe. Ping An will increase its provision for losses after Fortis drops to another low on liquidity concerns. Beijing Airport net income drops 90% on a rise in operating costs and fewer passenger traffic. |
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Shanghai Surges, Bank of East Asia Recovers
Sep 25, 5:47 PM ET |
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| Stocks in Shanghai rose as China controlled investment arm stepped up its purchase of bank stocks. Bank of East Asia in Hong Kong faced a temporary run after rumors of collapse swept markets. Central bank denied the rumors and added HK$500 million in liquidity and Li Ka-shing purchased its stock. |
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China Props Up Financials, Yili Down 10%
Sep 24, 5:33 PM ET |
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| Stocks in HK and Shanghai rose as financial staged a mild rebound after China stepped up purchase of bank stocks. However, inflation and global slowdown worries persisted in China trading. HK reported second quarter balance of payment surplus of HK$10.3 billion. Yili drops 10% for the second day. |
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HK, Shanghai Indexes Drop 3.8%
Sep 23, 5:09 PM ET |
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| Hong Kong and Shanghai stocks fell 3.8% after investors worried that the U.S. bailout plan will spread inflation around the world. Transportation stocks fell after crude oil jumped. Mining stocks rose. China to issue 25 billion yuan of treasury bonds at 3.68% interest rate. |
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Shippers Soar, Banks Surge in China
Sep 19, 4:55 PM ET |
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| Record one-day gain in Shanghai lifted banking and realty stocks. Shipping lines surged after freight index rose. |
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| Hong Kong, Shanghai in record one day gains. Investors stampeded after Beijing eliminated trading tax and Hong Kong added liquidity to the market. Earlier, the U.S Fed and five other central banks added $247 billion in liquidity in the global credit markets. HK Monetary Authority added $1.56 billion in liquidity. Banks in China surged. ICBC, China Construction surged 16% and HSBC added 7.5%. Property stocks scaled higher. Shipping lines surged more than 25% after freight index rose. |
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HK Recovers 7.7% Plunge; Shanghai Down 1.7%
Sep 18, 3:34 PM ET |
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| Hong Kong benchmark index recovered after six central banks around the world in a coordinated move added liquidity to the markets. |
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| Stocks in Hong Kong trading plunged 7.7% before recovering in the afternoon after six largest central banks added liquidity in the credit market to tune of $188 billion. Fearful investors sold stocks in banking sector after the U.S. market indexes lost more than 4% in the overnight trading. The Hong Kong benchmark index recovered in the afternoon to close nearly unchanged. But nervousness still persists in the market and Shanghai closed 1.7% lower. |
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China, HK Stocks Fall 3.6%
Sep 17, 7:34 PM ET |
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| Investors were unimpressed witth the latest bailout by the U.S. Federal Reserve of the largest insurance company AIG. |
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| Stocks in Hong Kong and in Shaghai dropped more than 3.6% on persistent worries related to the health of the U.S. financial system. The latest bailout of AIG with a huge loan of $85 billion only added to the pile of long worries of rising inflation in China and falling property prices. Hong Kong real estate prices are expected to decline at least 10% as lending tightens and global credit markets worries persist. |
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