Hong Kong stocks rose ahead of Chinese Communist Party Congress

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Source: Dukascopy Bank SA
Hong Kong shares gained on Wednesday after US President Barack Obama was re-elected for the second term. Developments in Greece also drew trader's attention as the country is voting on the new round of austerity measures later in the day. Meanwhile, investors remained focused on upcoming Chinese Communist Party Congress due on Thursday where China's leader will be elected. The Hang Seng Index rose 0.71% to close at 22,099.85. Four in nine sectors climbed. Telecommunications and consumer services poised the biggest gains. China Mobile and China Unicom Hong Kong surged 2.46% and 1.48%, while Sands China advanced 0.64%. Property developers also moved higher on hopes that weaker greenback will trigger more capital inflows into Chinese territory. Sino Land and New World Development jumped 2.55% and 3.24%.


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Wed, 07 Nov 2012 16:06:21 GMT

German bonds surge on low inflation risks

German bonds advanced as in his speech Mario Draghi said the inflation risks were low, and the debt turmoil threatens to devastate Germany's economy. The yield on Germany's 10-year bonds lost 6 basis points and was at 1.38%, yet surging from earlier 1.37%. Two-year yields dropped 4 basis points to -0.044%.

Wed, 07 Nov 2012 15:26:21 GMT

Japanese shares closed lower amid ongoing Greek woes

The Nikkei 225 index started Wednesday's session with sharp decline but by the end of the trading the index pared losses as US President Barack Obama was re-elected for a second term. Meanwhile, traders remained cautious as Greece votes on fresh round of austerity measures on Wednesday. The Nikkei 225 Index moved lower by 0.03% to close at 8,972.89. Six

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