Hong Kong shares slump on Fed's announcement

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Source: Dukascopy Bank SA
Hong Kong shares dropped down from their 19-month high amid falling exporters that declined after Federal Reserve said it will end their monthly bond purchase program. The Hang Seng index decreased 0.3% to 23,331.09, the biggest decline in 14 days.The gauge rose 23% last year. All but two groups slumped in the index. Financial companies slid the most in the benchmark gauge, led by falling shares of HSBC Holdings Plc. that tumbled 1.6%. Furthermore, Belle INT'L lost 3.2% to HK$17.48, halting further improvements in the consumer services sector that added 0.35%. Among worst performers was also Want Want China with 1.7% decline. Meanwhile Citic Pacific, steel manufacturing company, added 2.5% to HK$13.72, erasing further losses in the basic materials sector. Furthermore, China Resources increased 2.5% to HK$29, Hengan INT'L added 2.45% and HKEX shares jumped 2%.

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