Hong Kong shares slid despite strong industrial figures

Source: Dukascopy Bank SA
Hong Kong shares were bearish on Thursday, tracking weakness in the US and Japan's equities. Banks also put a lid on China's stocks after the China Banking Regulatory Commission ordered to tighten control over wealth management products. However, the downward trend was restricted by positive industrial numbers. The National Bureau of Statistics reported profits of the largest industrial firms soared 17.2% year on year in fist two months of the 2013 compared to an increase of 5.3% in 2012. Hang Seng Index dropped 0.74% to close at 22,299.63. Only utilities managed to post gains. Power Assets and HK and China Gas rose 1.67% and 0.89%. The top-losers were technology and consumer goods industries, retreating 1.76% and 1.31%. Lenovo Group and Tencent dropped 3.14% and 1.46%, while China Mercantile Holdings and China Resources slumped 4.32% and 0.86%. Financial shares also traded lower, with Bank of Communications, China Construction Bank and Bank of East Asia slid 3.97%, 0.94% and 0.81%, respectively.
Back to articles

Actual Topics

Thu, 28 Mar 2013 12:51:09 GMT

UK stocks move higher on mixed data

UK stocks are trading in green territory on Thursday after the UK Gfk consumer confidence unexpectedly remained unchanged in February, while experts had predicted a decline. However, weaker-than-expected data from the national housing market capped gains. The UK's Nationwide house price index remained unchanged, defying forecasts of a 0.2% increase. The FTSE 100 Index jumped 0.78% and is trading at

Thu, 28 Mar 2013 12:24:07 GMT

South Korea's GDP advances 0.3% in Q4

South Korean economic growth accelerated by a seasonally adjusted 0.3% in the last three months of 2012 from the previous quarter compared to an original estimate of a 0.4% increase, according to a report released by the Bank of Korea on Tuesday. The report showed that the nation's GDP grew 1.5% on an annual basis in the Q4, while for

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.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
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.