HK's Hang Seng Index slides further in afternoon
HONG KONG, June 1 (Reuters) - Hong Kong's Hang Seng Index tumbled further on Monday afternoon, falling 320 points, or 3.59 percent, to 8,613, on concerns over the local property market and the outlook for regional economic recovery, brokers said.
The index then clawed back some of its losses to trade 3.25 percent lower at 8,644.
''Domestic economic factors, in particular the outlook for the property market, were the market's main considerations,'' sales director Tom Leventhorpe of Indosuez W.I. Carr said.
''People buy Hong Kong for growth but we are not seeing much of that these days.''
Properties were the worst performing, led by Hysan's 7.00 percent fall to HK$7.35.
Other Asian markets were also sharply down in afternoon trade. Japan's Nikkei 225 was trading 2.23 percent lower and Thailand's SET index was 3.49 percent lower.
biz.yahoo.com
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Cheers, everyone who's short US equities. Should be a nice swoon. |
