New data on US consumer credit from the Federal Reserve revealed a downturn in February and added to the downward pressure on the Asian stock markets on Thursday.
In Hong Kong the Hang Seng Index declined by 61.73 points (or 0.28%) at 21867.04points, with the worst affected being the property sector with a drop of 1.25%. Within the sector the biggest loser was Hang Lung Properties Ltd., which saw its share price drop by 3.23%. Hang Seng China Enterprises Index also dropped by 132.51 points (or 1.02%) at 12588.31 points. The People’s Bank of China auctioned 15bn Yuan of three-year bills in its open market operation on Thursday, and the Shanghai Composite Index dropped 0.94% at 3118.7 points on Thursday. The news that orders for Ja...
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