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Market Update : 
Banks in HK Decline
Author: 123jump.com Staff
123jump.com
Last Update: 9:26 AM EDT March 31 2008

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Hang Seng fell 1.9% in Monday trading and declined 18% in the first quarter on rising inflation, falling dollar and worries related to global economic slowdown. Chinese Coking Industry Association forecasted higher coke price for the year as supply lags the rising demand. Financial stocks declined after analysts suggested that UBS may need to raise $16 billion in capital.

 
Jiangsu Expressway Co Ltd rose 4.63% to HK$7 after profit rose 40% to Rmb1.64 billion.

Dongfang Electrical Corp declined 6.8% after the company said it would issue up to 65 million new A shares, raising capital to fund part of its Rmb 3.96 billion investment in power projects.
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