Hang Seng down on investor pessimism over monetary easing

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Source: Dukascopy Bank
After a sharp appreciation yesterday, Hong Kong's Hang Seng index retreated on Wednesday, pushed down by investor worries that positive manufacturing data will curb Chinese government from implementing monetary easing. Hang Seng index slipped 0.28% or 57.12 points and settled at 20,333.37. Food producer and distributor Cosco Pac surged 4.5% and Belle Internatio climbed 3%. On the downside were property shares with Cheung Kong Holdings dropping 0.9% and Sino Land Co tumbling 3.6%. Esprit Holdings plunged 1.4% on announcement it will close all its stores in North America.

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