Business News
Hong Kong stocks drop 2.7 per cent after euro crisis talks
Dec 9, 2011, 9:33 GMT
Hong Kong - Hong Kong stocks fell 2.73 per cent Friday as investors reacted cautiously to crisis talks in Europe.
The blue-chip Hang Seng Index dropped 521.58 points to end the week at 18,586.23 points. Turnover was a relatively weak 54.6 billion Hong Kong dollars (7.01 billion US dollars).
Chinese banks listed in Hong Kong were the day's most actively traded stocks, with the Industrial and Commercial Bank of China Limited falling 4.08 per cent and the Bank of China Limited losing 2.78 per cent.
HSBC Holdings Plc fell by 3.69 per cent to close at 60.05 dollars.
EU leaders early Friday agreed on some measures to stabilize the sovereign debt crises threatening several eurozone countries, but investors appeared concerned the agreement was not enough.
Shares across Asia fell for a second day in the wake of data showing the long-running debt crisis was undercutting economic growth in Japan, South Korea and China.
As the Asian trading day came to an end, shares in Japan were down 1.5 per cent and off 3 per cent in Hong Kong. Stocks in Sydney fell 1.7 per cent.
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