Monday, December 9, 2013

Hong Kong stocks fall, with bank shares lower

LOS ANGELES (MarketWatch) - Hong Kong stocks fell early Friday, with financials among decliners before the release of U.S. monthly jobs data likely to contribute to the Federal Reserve's near-term direction on monetary stimulus. The Hang Seng Index (HK:HSI) fell 0.2% to 23,680.60, and the Hang Seng China Enterprises Index gave up 0.3%. Shares of heavily weighted HSBC Holdings PLC (HK:5) lost 0.7%, on track for a fourth straight day of declines, and Agricultural Bank of China Ltd. (HK:1288) (CN:601288) (ACGBF) pulled back by 1%. Standard Chartered PLC shares (HK:2888) (UK:STAN) sagged 2.8%, extending Thursday's drop of 4.7% after the lender said for the first time in a decade that its operating profit will decline. Meanwhile, China Mobile Ltd. shares (HK:941) (CHL) edged up 0.1% following a Reuters report that the company is still working on completing a deal to sell Apple Inc.'s (APPL) iPhones. On the mainland, the Shanghai Composite (CN:SHCOMP) fell 0.3%.

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