Saudi Arabia arrests 19,696 illegals in a week    Turki Al-Sheikh crowned "Most Influential Personality in the Last Decade" at MENA Effie Awards 2024    Move to ban on establishing zoos in residential neighborhoods    SFDA move to impose travel ban on workers of food outlets in the event of food poisoning    GACA: 1029 complaints recorded against airlines, with least complaints in Riyadh and Buraidah airports during October    CMA plans to allow former expatriates in Saudi and other Gulf states to invest in TASI    11 killed, 23 injured in Israeli airstrike on Beirut    Trump picks billionaire Scott Bessent for Treasury Secretary    WHO: Mpox remains an international public health emergency    2 Pakistanis arrested for promoting methamphetamine    Moody's upgrades Saudi Arabia's credit rating to Aa3 with stable outlook    Al Okhdood halts Al Shabab's winning streak with a 1-1 draw in Saudi Pro League    Mahrez leads Al Ahli to victory over Al Fayha in Saudi Pro League    Al Qadsiah hands Al Nassr their first defeat in the Saudi Pro League    Saudi musical marvels takes center stage in Tokyo's iconic opera hall    Saudi Arabia and Japan to collaborate on training Saudi students in Manga comics Saudi Minister of Culture discusses cultural collaboration during Tokyo visit    Al Khaleej qualifies for Asian Men's Club League Handball Championship final    Katy Perry v Katie Perry: Singer wins right to use name in Australia    Sitting too much linked to heart disease –– even if you work out    Denmark's Victoria Kjær Theilvig wins Miss Universe 2024    Order vs. Morality: Lessons from New York's 1977 Blackout    India puts blockbuster Pakistani film on hold    The Vikings and the Islamic world    Filipino pilgrim's incredible evolution from an enemy of Islam to its staunch advocate    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



HK shares end down 1.4 pct, HSI below support
Published in Saudi Press Agency on 25 - 11 - 2011

AlHijjah 29, 1432, Nov 25, 2011, SPA -- Hong Kong shares fell in thin Friday trade, posting a fourth straight weekly loss as investors cut risk ahead of the weekend, with the benchmark Hang Seng Index marginally failing to hold at chart support levels, according to Reuters.
The Hang Seng Index closed down 1.37 percent on the day and 4.34 percent on the week at 17,689.48. The China Enterprises Index ended down 1.78 percent on the day and 5.64 percent on the week at 9,395.91.
The Shanghai Composite Index finished 0.72 percent weaker on the day at 2,380.22 on weakness in the financial and property sectors. The benchmark slumped to its third straight weekly loss, finishing 1.5 percent off on the week.
HIGHLIGHTS:
* The benchmark struggled all day before finishing marginally below 17,730, about the 61.8 percent retracement of its rise from the Oct. 4 low to Oct. 28 high. Chart support is next seen between 17,179 and 17,437, the high on Oct. 6 and low on Oct. 7, respectively.
* HSBC Holdings Plc, Europe's largest bank, lost 1.7 percent to the lowest level since May 2009 and with a 15 percent weighting was a big part of the Hang Seng Index's slide. The gridlock in Europe over the region's debt problems has hit the bank hard. It is down almost 20 percent in November so far, poised for its worst month in more than three years and driving its 12-month forward earnings multiples near historic lows. At 7.3 times, it is just 4.3 percent off its all-time low, according to Thomson Reuters Starmine.
* Alibaba.com Ltd, slumped to its worst daily loss since September 2009 after posting the slowest earnings growth in nearly two years. It ended down 10.6 percent at HK$7.94 in volume more than twice its 30-day average, bringing its month-to-date loss to 14 percent. It gained more than 27 percent in October. The stock had spiked to as high as HK$9.25 on Tuesday, before sliding almost 13.8 percent over the last three sessions as short interest increased. Short-selling averaged about 34 percent on Wednesday and Thursday.
WEEK AHEAD:
* China is scheduled to release its official purchasing managers index (PMI) data for November on Dec. 1. A preliminary PMI survey on Nov. 23 showed factory output in the world's second-largest economy shrank the most in 32 months in November on signs of domestic economic weakness.


Clic here to read the story from its source.