On Friday Hong Kong's Hang Seng Index lost
2.73% or 521.58 points and closed at 18,586.23 on news from European summit
indicating that leaders did not manage to agree on tighter fiscal union. On the
downside were Chinese banks listed in Hong Kong that pushed heavily on the
index. Bank of Communications Co. traded down 3.8%, while Agricultural Bank of
China Ltd. and HSBC Holdings PLC each fell 3.7%.