India | UK | US

Hong Kong stocks slump more than 4 per cent - Summary

Hong Kong - Hong Kong shares plunge by more than 4 per cent Tuesday as the city's stock market reopened after a long weekend to news of tighter credit controls in China. The Hang Seng Index shed 1,026.66 points to close the day at 23,375.52 points, 4...
Posted : Tue, 10 Jun 2008 08:48:00 GMT
By : DPA
Category : Business
News Alerts by Email ( click here )
Business News | Home
Hong Kong - Hong Kong shares plunge by more than 4 per cent Tuesday as the city's stock market reopened after a long weekend to news of tighter credit controls in China. The Hang Seng Index shed 1,026.66 points to close the day at 23,375.52 points, 4.21 per cent lower than Friday's close. Turnover was 82.15 billion Hong Kong dollars (10.51 billion US dollars).

Analysts said the fall was a delayed reaction to losses on Wall Street on Friday as well as negative reaction to new credit controls announced in China over the weekend.

China's central bank announced a squeeze on credit, ordering banks to hold more deposits and to lend less. Capital inflows from Chinese investors play a large role in the Hang Seng Index.

Copyright DPA

Share/Save/Bookmark

Article : Hong Kong stocks slump more than 4 per cent - Summary
Print this article
Email this article

Stay Updated
News gadget on your Google homepage
Subscribe to a news feed in Google Reader


Related News

EADS insider trading case comes before French market regulator
Paris - The most high-profile cases of insider trading in Europe of recent years entered a crucial phase Monday when 17 current and former executives of aerospace giant EADS and its subsidiary Airbus began testifying before a French market watchdog. ...

Thai activists demand pull-out from Myanmar dam project
Bangkok - Thai civil society leaders representing 189 organizations demanded Monday the government withdraw from the controversial Hutgyi dam project in Myanmar or face dire consequences. The group delivered a letter to Prime Minister Abhisit Vejjaji...

Taiwan's tourist figures up due to influx of Chinese visitors
Taipei - Taiwan's visitor figures rose 11.65 per cent in the first 10 months this year, boosted by the influx of Chinese tourists, the Tourism Bureau said Monday. Between January and October, Taiwan received 3.5 million visitors, the Tourism Bureau s...

Iraq oil exports at 58.2 million barrels in October
Baghdad - Iraq crude oil exports reached 58.2 million barrels in October this year, generating 4.19 billion dollars in revenue, the Oil Ministry said Sunday. Daily oil production dropped slightly in to an average of about 1.85 million barrels a day, ...

Report: Germans in turmoil over Opel aid as neighbours offer cash
Berlin - The new German coalition government led by Chancellor Angela Merkel is in turmoil over the issue of state aid for Opel, while other EU states with Opel factories have pledged more than a billion euros (1.49 billion dollars), a magazine repor...

Thousands of Spanish farmers protest for higher prices
Madrid - Tens of thousands of farmers demonstrated in the Spanish capital of Madrid on Saturday for higher prices for their produce, claiming that farming in the country was no longer profitable. According to the state broadcaster RNE, more than 100,...

Porsche board agrees to VW tie-up - Summary
Berlin - Luxury German sports carmaker Porsche said Friday its board had agreed to the group's planned integration into Volkswagen AG, Europe's biggest auto manufacturer. The decision by the Porsche supervisory board came after German-based VW's supe...

Have your Say
Name
Email
Subject
Your Comment

Enter Verification code
 
  

 

 

More Business News click here
Follow The Earth Times
Subscribe to RSS Follow Earth Times on TwitterNews by email
Share/Save/Bookmark

 
 



 
Subscribe to free Earthtimes
News Alerts by Email Click here
For RSS Feeds Click here
or Create your own RSS

Add to Google Toolbar
Breaking News
Press Releases

 


The Earth Times
News Category

© 2009 www.earthtimes.org, The Earth Times, All Rights Reserved | Privacy Policy
Earth Times accept no responsibility or liability either directly or indirectly for views or opinions expressed in articles or comments.