Hang Seng falls sharply amid European summit

Note: This section contains information in English only.
Source: Markewatch
© Scanpix/AP

On Friday Hong Kong's Hang Seng Index lost 2.73% or 521.58 points and closed at 18,586.23 on news from European summit indicating that leaders did not manage to agree on tighter fiscal union. On the downside were Chinese banks listed in Hong Kong that pushed heavily on the index. Bank of Communications Co. traded down 3.8%, while Agricultural Bank of China Ltd. and HSBC Holdings PLC each fell 3.7%. 

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