Hang Seng fell on Monday amid European downgrade

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Source: Dukascopy Bank
© Dukascopy Bank
Hong Kong's Hang Seng Index fell sharply on Monday as investors anticipated news that S&P agency cut France's AAA rating and downgraded 8 other European nations. Decline was boosted also by Greek battle to cut their debt. Hang Seng Index lost 1.0% or 192.22 points and finished at 19,012.20 led by insurance companies. China Life Insurance Co. tumbled 3.3%, while Ping An Insurance Group declined 2.5%. Export reliant shipping company China Cosco Holdings Co gave up 3.8%, while Air China Ltd. dropped 5.1%.

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Mon, 16 Jan 2012 16:42:08 GMT

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