Hong Kong shares drop on higher-than-expected inflation

Note: This section contains information in English only.
Source: Dukascopy Bank SA
The Hong Kong blue chips retreated after data showed inflation was higher-than-expected in December, raising hopes for more monetary stimulus to heal the nation's economy. The Hang Seng index slid 0.4% to 23,264.07, showing a weekly drop of 0.3%. All but one sector in the gauge edged lower. Basic materials posted biggest losses and were 3.30% down. A decline in the latter was mainly triggered by Citic Pacific that erased 3.6% to HK$13.22. China Shenhua decreased 3.76%, even though the company announced that it has won the auction of a shale gas block located in Southern China. Furthermore, Chalco shares slid 3% after rallying as much as 6.5% on Thursday as Chinese trade balance data dragged down expectations. Meanwhile, among best performers were Sino Land and HSBC Holdings, by adding 1.33% and 0.84%, respectively, and capping losses in financial shares that were only 0.26% lower. Belle Int'L lost 0.9% to $21.85, contributing to losses in the consumer services sector.


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Fri, 11 Jan 2013 17:12:07 GMT

U.K. stocks gain on Japanese monetary stimulus

U.K. shares were little changed, sending the FTSE 100 index for its weekly advance, after Japan's government called for more monetary stimulus. The FTSE 100 index gained 0.1%, or 8.34 points, to 6,109.85. All but two sectors in the benchmark index inched higher. International Consolidated Airlines rallied the most in the gauge by 4.9% after UBS AG upgraded its recommendation

Fri, 11 Jan 2013 16:42:08 GMT

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