Monday, May 16, 2011

Hong Kong shares down due to the Energy and HSBC

Earlier Monday, the Hong Kong stock market fell with the decline of energy sector and related resources, selling in the sector dsebabkanthe strengthening U.S. dollar. Fears of debt in the euro zone alsogave negative sentiment, lower banking sector, including HSBCHoldings PLC.
Hang Seng Index fell 0.7% to as low as 23,120.37and the Hang Seng China Index fell 0.7% to as low as 12,802.22.HSBC shares fell 1.4%, while among the resources, the fall of base metals and crude oil pulled down shares of Aluminum Corp. of ChinaLtd. as much as 2% and PetroChina Co. as much as 2.1%.Shanghai index climbed 0.1% to as low as 2,874.03 in morningtrade in this brief, after the opening session of the slow movement.

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