Chinese stocks fell in
Hong Kong trading, led by energy and financial companies, after trade
data missed economists™ estimates and concern grew that new share
offerings will divert funds from existing shares.
Hong Kong™s Hang Seng
China Enterprises Index slipped 0.5 percent to 11,638.29 at 9:39 a.m.,
dragged down by losses for Haitong Securities Co. and China Shenhua
Energy Co. The Shanghai Composite Index dropped 0.1 percent, the CSI 300
Index added 0.2 percent, while the Hang Seng Index lost 0.7 percent.
Imports fell by the
most in more than five years in January, declining 19.9 percent from a
year earlier, the customs administration in Beijing said Sunday. That
compared with estimates for a 3.2 percent drop in a Bloomberg survey of
analysts. Exports slid 3.3 percent, leaving a record trade surplus of
$60 billion.
The Shanghai gauge is
valued at 11.5 times 12-month projected earnings, the lowest level since
Dec. 24, according to data compiled by Bloomberg. The Bloomberg
China-US Equity Index, the measure of the most-traded U.S.-listed
Chinese companies, retreated 2 percent in New York on Feb. 6.
Source : Bloomberg
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