Hang Seng returns back to downward trend

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Source: Marketwatch
© Scanpix/AP

On Friday Hong Kong's Hang Seng Index extended its losses, giving up 1.29% or 231.09 points and closing at 17,704.01 as Angela Merkel rejected issuance of Eurobonds fuelling investors' fears about deepening debt crisis. Banking, energy and real estate shares led the decline in index. Bank of Communications Ltd fell 1.8%, China Merchants Bank Ltd dropped 2.6%, while China Resources Land Ltd. gave up 4.3%. Crude oil producer Cnooc Ltd declined 2.2%.

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Fri, 25 Nov 2011 10:00:53 GMT

Nikkei 225 trades flat

Japan's Nikkei Stock Average Index experienced slight downturn ending up at 8,160.01 or 0.6% down on Friday trade. Nevertheless, the index is still fluctuating in the area of 2.5 year-low. Financial institutions gave negative contribution to index, though by the end of trade it was offset by leading exporters. Shinsei Bank Ltd lost 5.2% while Nikon Corp. and Mitsubishi Motors Corp. each added 3.0% and

Fri, 25 Nov 2011 10:01:40 GMT

Russia leaves benchmark rate unchanged

Russia has decided to leave benchmark interest rate untouched for a second consecutive month. According to Bank Rossii statement released today it will keep borrowing rate at 8.25%. Russia is trying to restrict inflation to 7% - the lowest since the collapse of Soviet Union in 1991. However, depreciation of ruble may boost inflation next month as export power is increasing.

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