Hong Kong shares plunged on Thursday

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Source: Dukascopy Bank SA
Chinese equities plunged on Thursday amid fading hopes for monetary easing in the country. On Wednesday, Xinhua News Agency reported that China may slow easing measures because of inflation concerns. The Hang Seng Index sank 1.19% to end Thursday's session at 19,552.91. All sectors included in the index slumped. The top-losers were technology and industrial stocks. Tencent Holdings and Citic Pacific tumbled 1.90% and 4.22%. Oil and gas companies also slid, with CNOOC leading the decline. CNOOC lost 0.51% after the government approved its USD15.1 billion bid to buy Nexen. Property developers were hit by news that the government is preparing for news curbs as soon as next week. Hang Lung Properties and Sino Land dropped by 2.61% and 4.95%. Lenders also followed bearish trend, with Construction Bank of China and Bank of Communications sliding by 2.47% and 3.48%.

 

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Thu, 30 Aug 2012 12:47:13 GMT

European stocks slid amid growth concerns

European stocks declined for a third day on data from Asia to Europe adding signs of global growth slowdown, while speculation weakened that Fed Chairman Ben Bernanke will declare further stimulus. The Stoxx Europe 600 Index tumbled 0.5% to 265.57, increasing this weeks fall to 0.9%.

Thu, 30 Aug 2012 09:37:11 GMT

Japanese equities tumbled after dismal retail sales data

The Nikkei 225 Index tumbled by 0.95% to close at 8,983.78 on Thursday. Easing hopes that the Fed will loosen its monetary policy as well as bigger-than-expected slump in Japan's retail sales in July created heavy pressure on the Japanese equities. Concerns that China will not embark on monetary easing because of high inflation rate also weighed on Nikkei average.

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