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By: Stephen Bates

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Friday, 31-Jan-2014 10:25 Email | Share | Bookmark
Hong Kong Shares Have Feeble January Finish As Holiday Mood Dimm

For January, they were down 3.6 and 5 percent, respectively. During 2013, they tanked 6.7 and 7.6 percent, weighed down by slowing growth and a liquidity squeeze amplified by the resumption of initial public offering (IPO) approvals after a halt of content more than a year. "There's too much going on right now, markets are still fragile so much of today's action is about not taking unnecessary risks ahead of the holiday," said Linus Yip, a Hong Kong-based strategist with First Shanghai Securities. "But I think people need to be prepared to see China's economy slowing more than what the consensus is expecting," Yip web site added. PROFIT-TAKING IN OUTPERFORMERS Hong Kong's Thursday losses came in relatively robust volumes. Growth-sensitive sectors were among the biggest index drags as investors also took profit in some outperformers while rolling into the Macau casino sector. China Merchant Bank sank 1.7 percent in Hong Kong and 1.1 percent in Shanghai. <br>Read more:

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