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HSBC, Chalco weigh down Hong Kong shares in early trading
- China Aluminium Network
- Post Time: 2009/4/9
- Click Amount: 451
Hong Kong stocks dropped Wednesday, with financials led by market heavyweight HSBC Holdings plunging sharply after an overnight drop on Wall Street. Hang Seng Index component Aluminum Corp. of China, or Chalco, declined 4% following a poor earnings report from Alcoa Inc. The benchmark index was down 2.8% at 14,510.82 in the opening minutes, with HSBC sliding 4.3%. Shares of Hong Kong Exchanges & Clearing tumbled 4.9% after Macquarie Research downgraded the bourse operator. The Hang Seng China Enterprises Index, consisting of major Chinese firms listed in Hong Kong, gave up 2.6% to 8,542.27.
Source: MarketWatch
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