Hang Seng drops on S&P warning

Note: This section contains information in English only.
Source: Marketwatch

On Tuesday Hong Kong's Hang Seng Index edged down 1.24% or 237.46 points and closed at 18,942.23 after S&P released announcement it may cut credit rating for 15 Eurozone countries as lingering debt crisis threatens financial stability. Financials put main negative pressure on the index as Agricultural Bank of China Ltd lost 1.7%, Bank of China Ltd. declined 1.8% and HSBC Holdings PLC dropped 1% after it received a fine from UK's regulators for prohibited sales of particular securities to retail investors. Esprit Holdings Ltd plunged 10.5% after company's CEO resigned. 

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Tue, 06 Dec 2011 12:00:33 GMT

Japan's Nikkei 225 declines on investor fears about Europe's downgrading

Japan's Nikkei Stock Average lost 1.39% or 120.82 points on Tuesday and closed at 8,575.16 amid worries created by Standard & Poor's that European countries may face downgrading. Most Japanese financials weighted down on the index as Nomura Holdings Inc. and Mizuho Financial Group Inc. both traded down 1.9%. Metal-sector companies also contributed to Nikkei 225 depreciation as Sumitomo Metal Mining declined 1.8% while JFE Holdings

Tue, 06 Dec 2011 12:02:31 GMT

Merkel and Sarkozy respond to S&P move

French President Sarkozy and German Chancellor Merkel released a joint statement yesterday saying they respect and take into account S&P decision. Nevertheless, both leaders insisted that tighter fiscal alliance and stricter control of national budgets and economic policies will promote financial stability growth across the region. 

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