Hang Seng index drops as Europe enthusiasm fades

Note: This section contains information in English only.
Source: Marketwatch
On Tuesday Hong Kong's Hang Seng Index lost 0.69% or 128.49 points to 18,447.17 as disbelief in latest European agreement stimulated decline in the markets. Among main decliners were export dependent stocks with Lenovo Group Ltd. giving up 0.4% and clothing trader Esprit Holdings Ltd. falling 2.8%. Resource companies listed in Hong Kong fluctuated between gains and losses. Aluminum Corp. of China Ltd. dropped 3% while Jiangxi Copper Co. edged down 1.6%. In contrast, China Gas Holdings rallied 20.4% on speculation that it may sell its outstanding stocks for about $2.15 bn.

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Tue, 13 Dec 2011 13:09:35 GMT

China's import of yellow metal from Hong Kong increased

China's import of gold from Hong Kong reached 85.7 tons in October compared to 57 tons in the preceding month, reported Hong Kong Census and Statistics Department. Hong Kong remains the largest source of gold for China's mainland. China's gold demand is expected to stay strong fueled by constantly growing gold prices. The average import of gold is likely to grow by 10%

Tue, 13 Dec 2011 17:38:16 GMT

Spain sells bonds worth €4.94 billion

On Tuesday Spanish central bank sold €4.94 bn ($6.51 bn) of 12 and 18-month notes, more than the Treasury had intended to attract. Central bank sold €3.44 bn 12 month notes at an average yield of 4.05%, compared to 5.02% in November. 18-month bonds created average borrowing cost at 4.2%, or 1 percentage point less than in November.

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