Hang Seng Index declines after Kim Jong-il's death

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Source: Marketwatch

Hong Kong's Hang Seng Index lost 1.18% or 215.18 points reaching 18,070.21 on Monday after receiving news about Kim Jong-il, the North Korean leader's death. Losses were fuelled by growing concerns about European debt crisis. Among main decliners were HSBC Holdings PLC and Li & Fung giving up 2% and 3.1% respectively. Clothes producer Esprit Holdings Ltd. tumbled by 6.5%.

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Mon, 19 Dec 2011 14:17:06 GMT

Spain's bad loans reach record high since 1994

Spanish banks announced on Monday their fraction of bad loans has increased to highest reading in 17 years as country is harmed by property crash and deepening European debt crisis. According to Bank of Spain, the proportion of bad debt against total lending jumped to 7.42%, the highest since 1994 compared with 7.16% in September.

Mon, 19 Dec 2011 12:08:36 GMT

Dow Jones closed lower on Friday

Dow Jones Industrial Average gave up 0.02% or 2.42 points and closed at 11,866.39 on Friday. Index gained 99 points in morning trade after Italian government approved austerity measures. Gain was offset later by Fitch Ratings report saying the agency may downgrade debt of Spain, Italy and 4 other countries. Main gainers were Home Depot Inc. and Microsoft Corp. adding 2.54% and 1.72% respectively. On the

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