Hang Seng index lower on Jiabao announcement

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Source: Dukascopy Bank
Hong Kong's Hang Seng index bucked Asian market upward trend and declined on Wednesday after Chinese PM Wen Jiabao reiterated Beijing will not ease monetary policy towards real estate sector. Hang Seng index dropped 0.15% or 31.81 points to 21,307.89 with telecommunication sector posting the biggest loss. Heavyweight China Mobile contributed to the downside, tumbling 2.7%. On the upside index was supported by China Merchant and Li & Fung Ltd, each adding 4.3% and 4% respectively.

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Wed, 14 Mar 2012 14:52:30 GMT

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