HONG Kong shares have tumbled 2.41 per cent on fears US legislators will fail to reach a deal before year-end to avoid a "fiscal cliff" that could tip the economy back into recession.
The benchmark Hang Seng Index on Thursday fell 532.94 points to 21,566.91 on turnover of $HK72.66 billion ($A9.04 billion). The fall is the index's steepest since July 23 but comes after it enjoyed a 16 per cent rally since the start of September.
Eyes are also on Beijing where the Communist Party began a week-long congress to anoint the country's next leaders.
President Barack Obama's election victory over Republican Mitt Romney has been followed with trepidation as the focus turns to the "fiscal cliff", a combination of deep spending cuts and tax rises.
These will automatically take effect on January 1 unless Democrats and Republicans can agree on alternative ways to cut the deficit.
Henderson Land and New World Development, sourcing firm Li & Fung, oil majors PetroChina and China National Offshore Oil Corporation, coalminer China Shenhua and Macau casino operator Galaxy Entertainment all fell more than 3.0 per cent on profit-taking.
Chinese shares closed down 1.63 per cent. The benchmark Shanghai Composite Index lost 34.22 points to 2,071.51 on turnover of 49.3 billion yuan ($A7.62 billion).
Traders are watching the 18th party congress to see if the country's rulers unveil any fresh measures to boost the domestic economy, which has suffered a slowdown in the past year.
"Given the absence of market-moving news from the domestic side, concerns about the US fiscal cliff dominate the (domestic) A-share market," Capital Securities' analyst Li Bin told Dow Jones Newswires.
Resources stocks led the declines on concerns about the global economy.
Coal producer Heilongjiang Heihua slumped 8.40 per cent to 6.87 yuan, Anyuan Coal Industry dropped 5.92 per cent to 12.40 yuan and Shanxi Coking Coal fell 4.27 per cent to 8.29 yuan.
Nonferrous metals producer Chengtun Mining lost 5.19 per cent to 10.23 yuan while Rising Nonferrous Metals fell 3.89 per cent to 41.56 yuan.
Anda sedang membaca artikel tentang
Hong Kong shares end 2.41% lower
Dengan url
http://cucidollaran.blogspot.com/2012/11/hong-kong-shares-end-241-lower.html
Anda boleh menyebar luaskannya atau mengcopy paste-nya
Hong Kong shares end 2.41% lower
namun jangan lupa untuk meletakkan link
Hong Kong shares end 2.41% lower
sebagai sumbernya
0 komentar:
Posting Komentar