Markets
HK shares to slump 4.3pc at open; Hutch hammered
HONG KONG : Hong Kong stocks broke through a key chart level, falling to the lowest level for the year as fears of a w
By
HONG KONG: Hong Kong stocks broke through a key chart level, falling to the lowest level for the year as fears of a worsening crisis in Europe and stalling global economic growth led investors to dump risky assets.
The Hang Seng Index was set to open down 4.3 percent at 20,939.4, the lowest level in ten months. The China Enterprises Index of top locally listed mainland companies was indicated to open down 4.82 percent.
Hutchison Whampoa Ltd , which also reported earnings that came in below expectations, was set to open down 7 percent as retail investors who had piled into the warrants in recent weeks are forced to unwind positions.
Copyright Reuters, 2011
More Stories
Comments
Comments are closed for this article.