HONG KONG, Aug 19 (Reuters) - Hong Kong shares fell 2 percent to close at a new one-year low on Tuesday, weighed down by losses in property stocks ahead of key earnings, but power stocks rallied on hopes of another round of tariff increases in China after the Olympics.
Europe's largest bank HSBC Holdings led losses on the blue chip index, tracking overnight falls in its U.S. peers after credit market worries resurfaced.
The Hang Seng Index .HSI unofficially closed 410.58 points lower at 20,520.09 points.
The China Enterprises Index .HSCE of top locally-listed mainland firms dropped 2.1 percent as retreating oil prices sent oil producers and coal miners lower.
(Reporting by Parvathy Ullatil; editing by Keiron Henderson)
Tuesday, August 19, 2008
Property developers drag HK shares to new 1-yr low
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment