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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (63047)	4/21/2002 11:45:55 PM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Hang Seng slips in morning trade, led by HSBC Monday April 22, 10:50 AM sg.news.yahoo.com HONG KONG (Reuters) - Hong Kong stocks were slightly lower on Monday morning led by shares of banking giant HSBC Holdings on worries over its exposure to Argentina's economic problems. The benchmark Hang Seng Index was down 0.24 percent at 11,219.82 after eight minutes' trade, pulling back after reaching a one-month high on Friday following five straight sessions of gains. Shares of HSBC Holdings, the largest stock on the Hong Kong bourse by market value, were down 0.55 percent at HK$91 following the latest economic troubles in Argentina, Latin America's third biggest economy. A run on the country's bank deposits prompted the central bank to announce an indefinite suspension of banking and foreign exchange activity beginning on Monday. Argentina's turmoil led HSBC in March to report a US$1.12 billion provision for its 2001 financial year, but it said at the time that it had no intention of pulling out of the country.