Date: Monday 19 Jul 2010
The Hang Seng fell on Monday after Friday’s rout on Wall Street. Disappointing second quarter results from Bank of America and General Electric cast a gloomy mood over Asian markets while a weaker than expected US consumer sentiment report knocked market confidence even further.Concern about growth pressured stocks in most sectors and banks were no exception. HSBC fell 2.38%, ICBC declined 1.40% while Bank of China lost 1.23%.
Retailer Li & Fung dragged 2.6% in Hong Kong. Commodities were also lower.PetroChina slid 1.22% while Aluminium Corp of China declined 2.8%.
Shares in Zijin Mining fell 2.8% after the group said a substantial toxic water leak had been found at one of its copper plants.The Hang Seng index fell 158 points to 20,091 in Hong Kong.
The Nikkei is closed today for a holiday.
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