Futures-Led Selling Hits Stocks
March 29, 2011
The blue-chip Hang Seng Index fell 18.88 to 10609.10. The broader All Ordinaries Index, meanwhile, lost 15.40 to 5150.24. Selling came from ``people who feel quite cautious on the short-term outlook of the market,'' said Stefan Agee, research manager at Mansion House Securities (HK) Ltd.. He said that although U.S. economic figures indicated inflation was in no danger of outpacing the economy, uncertainties remain about a rate hike. Volume slipped to 5.67 billion Hong Kong dollars from the preceding session's HK$6.25 billion. Among the key subindexes, the financials dipped 0.2%. The utilities dropped 0.3%. The property subindex slid 0.08%. And the commercial and industrial subindex retreated 0.2%. The Hang Seng China Enterprises Index, which tracks the Chinese Class H shares, ended at 781.64, down 19.08 points. Archie Aucoin, director of sales at Vickers Ballas Hong Kong Ltd., said that the China-related stocks dropped on profit-taking.
VastPress 2011 Vastopolis
