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Shanghai Plunges 5%, HK Stocks Down 1.4% |
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Author: 123jump.com Staff
123jump.com
Last Update: 3:42 PM EDT April 09 2008
China reported a decline in consumer confidence in the first quarter on rising food and energy prices. However, real estate sales continue to surge in March after falling for two months in a row. Stocks in Shanghai plunged 5% as investors worried that earnings in the first quarter will be lower than expected. Hang Seng index fell 1.4% but recovered from larger losses on rising energy and commodities stocks. |
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