Hong Kong shares closed lower; Tencent led losses

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Scanpix/Reuters
Hong Kong equities tumbled on Thursday after China's Communist Party elected the new leader Xi Jinping. Worries over the US fiscal cliff and uncertainty over the eurozone dragged the Hong Kong share index lower. The Hang Seng Index sagged 1.55% to close at 21,108.93. Only two sectors within the index climbed. The only gainers were utilities and consumer services.  Hong Kong and China Gas gained 1.12%, while Esprit Holdings soared 22.03%. Esprit Holdings surged after its former chairman increased his stake in the company to about 6%, fueling speculation that he is likely to revive struggling company. Sending Hong Kong stock index lower, technology sector shed 6.95%. Tencent reported that its strategy to expand into new business weighted on margins and the number of Internet users dropped. Meanwhile, basic materials that led gains on Wednesday were bearish on Thursday. Aluminum Corp of China (Chalco) sank 2.11%.

Back to articles

Actual Topics

Thu, 15 Nov 2012 13:03:44 GMT

European markets edge lower on U.S. budget concern

The Stoxx Europe 600 Index dropped 0.5% to 266.71 points in early London trading session on Thursday, deepening a two-month low. Markets trade with negative sentiments, as U.S. President Barack Obama said that tax for high earners will be increased by the next year. In order to avoid the fiscal cliff, the U.S. plans to impose the $607 billion tax

Thu, 15 Nov 2012 16:02:12 GMT

Silver rose on weak US data

Precious metals advanced on Wednesday, following dismal economic data releases from the US. US retail sales and PPI dropped more than expected last month, adding to fears that the country's economy may into recession, especially after tax hikes. At the same time, mounting hopes that the Fed may introduce a new bond-buying program in 2013 buoyed the commodity group.Gold traded

Subscribe to "Fundamental Analysis" feed

订阅
欲了解更多有关杜高斯贝银行差价合约/外汇交易平台，SWFX和其它相关交易详情，
请致电我们或要求回电。
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
欲了解更多有关杜高斯贝银行差价合约/外汇交易平台，SWFX和其它相关交易详情，
请致电我们或要求回电。
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.