Hong Kong shares drop on falling Japanese exporters

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Source: Dukascopy Bank SA
Hong Kong blue chips dropped on falling Japanese exporters, as the yen appreciated against its major counterparts. The Hang Seng index lost 0.94% to 23,111.19, touching its lowest level this year. Six out of nine sectors edged lower in the gauge. The sectors that shrank the most were basic materials, oil and gas, and financials, tumbling 1.6%, 1.4% and 1.2%, respectively. Among the worst performers was Ping An Insurance that declined 4% on speculation the China Development Bank raised concerns over the attempt of Thailand's CP Group's aim to buy HSBC's stake in the insurance company. Furthermore China life retreated 3.3% and Li Fung shares lost 3.27% to HK$ 14.22, triggering a 0.13% decline in the consumer services sector. Meanwhile, Tingyi advanced 4.22% and Want Want China increased 2.6%, pacing gains in the consumer goods sector that was 4.2% up.


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