Hang Seng Index experiences a new decline

Note: This section contains information in English only.
Source: Marketwatch
© Scanpix/AP
On Wednesday Hong Kong's Hang Seng Index extended its decline and dropped by 2.1% closing at 17,864.43 or 387.16 points down compared to Tuesday. The sharp decline was mainly caused by China's disappointing manufacturing survey. PCCW Ltd was among major losers in index, giving up 3.3% after pricing its telecom trust at lowest level in price range. Resource and banking industry shares also added negatively to index as commodity prices declined. Jiangxi Copper Co lost 3.8%, Aluminum Corp. of China Ltd. traded down 4.1%, while Cnooc Ltd. lost 3.2%. Commercial Bank of China Ltd. and Agricultural Bank of China Ltd. dropped each 2.8% and 4.1% respectively.

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