Hang Seng Index ends lower as Europe outlook worsens

Note: This section contains information in English only.
Source: Marketwatch
On Thursday Hong Kong's Hang Seng Index lost 0.7% or 132.77 points and closed at 19,107.81, as investors were concerned about the outcome of upcoming summit, ECB decisions on interest rate as well as German government's refusal to operate two bailouts simultaneously. Shares of companies that are highly exposed to Chinese markets provided most negative contribution. Tsingtao Brewery Co. fell 3.2%, Gome Electrical Appliances Holding Ltd. declined 2% while Geely Automobile Holdings Ltd. traded down 1.6%.

 

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Thu, 08 Dec 2011 15:18:39 GMT

Oil prices to increase

WTI Crude Oil prices are likely to approach $112.5/bbl in 2012 and $126/bbl in 2013 while Brent crude oil my swing around $130/bbl in 2013, reported Goldman Sachs. Taking the rising capacity of Seaway pipeline, the Brent-WTI spread is expected to narrow, the company added. Oil outlook is turning to bullish on the growing tensions between Middle-East and Western economies.

Thu, 08 Dec 2011 14:31:33 GMT

Venezuela brings back its gold reserves

The second shipment of gold repatriated from European and North American banks to Venezuela arrived in Caracas, said Hugo Chavez, Venezuelan President. The first yellow metal's shipment arrived November 25 without announcing any further information on amount. August's estimates showed the country has 211 tons of overseas commodity reserves. The president is concerned about the situation in the developed economies and wants to bring back all Venezuelan gold being worth 11

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