Hong Kong stocks rallied, supported by metal producers

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Scanpix/AFP
Hong Kong equities erased previous losses on Wednesday, supported by strong gains in metal producers. China's government stated that the country will resume stockpiling metals in order to boost physical metals' prices. At the same time, looming US fiscal battles and a delay in Greek bailout decision created heavy pressure on Hong Kong blue chips. The Hang Seng Index soared 1.2% to close at 21,441.99. Seven out of nine sectors jumped. Basic materials and lenders led gains. China Construction Bank and Bank of China rallied 3.18% and 2.91%. Meanwhile, Aluminum Corp of China (Chalco) surged 2.79%. Housing firms also moved higher. Hang Lung Properties and Sino Land rose 1.69% and 1.38%. Sending Hong Kong shares lower, Tencent slumped 0.89% ahead of the quarterly report due later in the day. Retailers also were bearish, with Esprit Holdings and COSCO Pacific losing 2.75% and 1.16%.


Back to articles

Actual Topics

Wed, 14 Nov 2012 15:55:00 GMT

UK stocks drop after jobless claims data

UK shares tumbled on Wednesday on concerns about the US federal budget debate and negative national data. The number of people applying for unemployment benefits jumped unexpectedly in October. Meanwhile, investors are also cautious ahead of the China's leadership change as the 18th CPC Central Committee will elect the General Secretary early on Thursday. The FTSE 100 Index dropped 0.54%

Wed, 14 Nov 2012 21:16:40 GMT

Euro above 2-month high versus Dollar

On Monday, the 17-nation currency remained supported slightly above a 2-month high versus the greenback, on speculation that Greek aid payments could be paid in a single lump sum. The EUR/USD pair hit a session high of 1.2756, and later consolidated at 1.2732, which was a 0.22% growth for the European afternoon trading session.

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX 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.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
Chcete-li se dozvědět více o platformě Dukascopy Bank CFD / Forex, SWFX a dalších souvisejících obchodních informacích, prosím, zavolejte nám, nebo vám můžeme zavolat my.
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.