HONG KONG, May 17 (Reuters) - By 0230 GMT, the benchmark Hang
Seng Index had extended losses, down 2.5 percent at
19,636.88. The China Enterprise Index of top locally
listed mainland stocks was down 3.4 percent.
Here are some stocks on the move:
* Europe-focused fashion retailer Esprit dropped 7.2 percent, while British lender HSBC Holdings fell 2.9 percent on concern that sharp cuts in government spending in Europe will slow growth in the area, hurting corporate profits.
Esprit, HSBC and Chinese banks were among the most actively traded stocks in the session.
* Industrial & Commercial Bank of China slid 2.5 percent. The lender has selected four banks to handle its Shanghai fundraising, sources said on Friday, aiming to raise 25 billion yuan ($3.7 billion).
Other Chinese lenders were also weak, with Bank of Communications down 3.7 percent.
* Canadian coal miner SouthGobi Energy Resources tumbled 7.7 percent after it reported a first-quarter loss of $162.3 million as the company lost millions in China Investment Corp convertible debentures and derivatives.
* Electronic power meter maker Wasion Group fell 3.2 percent. The company said it would team up with Siemens Ltd China to conduct research on the feasibility of smart grid pilot projects in China, including smart consumption of electricity.
((Reporting by Jun Ebias; Editing by Chris lewis))
((jun.ebias@thomsonreuters.com; +852 2843 6537; Reuters Messaging: jun.ebias.reuters.com@reuters.net))
((If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com))
Pan-Asia...... Japan........ S.Korea....
S.E. Asia............ Hong Kong... Taiwan.....
Australia/NZ......... India....... China......
OTHER MARKETS:
Wall Street........... Gold......... Currency..
Eurostocks........... Oil........... JP bonds...
ADR Report.......... LME metals.. US bonds...
Stocks News US... Stocks News Europe...
DIARIES & DATA:
IPO diary & data Asia earnings diary
U.S. earnings diary European diary
Taiwan diary Wall Street Week Ahead
Eurostocks Week Ahead World forecasts
TOP NEWS:
For top Asian company news, double click on:
U.S. company news European company news
Forex news Global Economy news
Technology news Telecoms news
Media news Banking news
Politics/General news Asia Macro data
A multimedia version of Reuters Top News is available at:
http://topnews.session.rservices.com LIVE PRICES & DATA: World Stocks
Currency rates
Dow Jones/NASDAQ Nikkei
FTSE 100 Debt
Hong Kong Dollar LME price overview
($1=6.825 Yuan) Keywords: MARKETS HONGKONG STOCKS
Keywords: MARKETS HONGKONG STOCKS
HONG KONG, May 17 (Reuters) - By 0345 GMT, the benchmark Hang Seng Index had fallen 2.4 percent at 19,670.46. The China Enterprise Index of top locally listed mainland stocks was down 3 percent.
Here are some stocks on the move:
* Export counters such as contract cellphone maker Foxconn International fell 7.4 percent and Europe-focused fashion retailer Esprit dropped 7 percent on concern that sharp cuts in government spending in Europe will slow growth in the area, hurting corporate profits.
Foxconn also fell after JPMorgan cut its price target on the stock to HK$5.40 from HK$8.00 due to slower earnings expectations, dealers said.
British lender HSBC also slipped 2.4 percent on the lingering sovereign debt woes in Europe.
Esprit, HSBC and Chinese banks were among the most actively traded stocks in the session.
* Industrial & Commercial Bank of China slid 2.5 percent. The lender has selected four banks to handle its Shanghai fundraising, sources said on Friday, aiming to raise 25 billion yuan ($3.7 billion).
Other Chinese lenders were also weak, with Bank of Communications down 3.3 percent.
* Canadian coal miner SouthGobi Energy Resources tumbled 11.3 percent after it reported a first-quarter loss of $162.3 million as the company lost millions in China Investment Corp convertible debentures and derivatives.
* Electronic power meter maker Wasion Group fell 2.6 percent. The company said it would team up with Siemens Ltd China to conduct research on the feasibility of smart grid pilot projects in China.
((Reporting by Jun Ebias; Editing by Ken Wills))
((jun.ebias@thomsonreuters.com; +852 2843 6537; Reuters Messaging: jun.ebias.reuters.com@reuters.net)) Pan-Asia...... Japan........ S.Korea.... S.E. Asia............ Hong Kong... Taiwan..... Australia/NZ......... India....... China...... OTHER MARKETS: Wall Street........... Gold......... Currency.. Eurostocks........... Oil........... JP bonds... ADR Report.......... LME metals.. US bonds... Stocks News US... Stocks News Europe... DIARIES & DATA: IPO diary & data Asia earnings diary U.S. earnings diary European diary Taiwan diary Wall Street Week Ahead Eurostocks Week Ahead World forecasts TOP NEWS: For top Asian company news, double click on: U.S. company news European company news Forex news Global Economy news Technology news Telecoms news Media news Banking news Politics/General news Asia Macro data A multimedia version of Reuters Top News is available at: http://topnews.session.rservices.com LIVE PRICES & DATA: World Stocks Currency rates Dow Jones/NASDAQ Nikkei FTSE 100 Debt Hong Kong Dollar LME price overview ($1=6.825 Yuan) Keywords: MARKETS HONGKONG STOCKS (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Here are some stocks on the move:
* Europe-focused fashion retailer Esprit dropped 7.2 percent, while British lender HSBC Holdings fell 2.9 percent on concern that sharp cuts in government spending in Europe will slow growth in the area, hurting corporate profits.
Esprit, HSBC and Chinese banks were among the most actively traded stocks in the session.
* Industrial & Commercial Bank of China slid 2.5 percent. The lender has selected four banks to handle its Shanghai fundraising, sources said on Friday, aiming to raise 25 billion yuan ($3.7 billion).
Other Chinese lenders were also weak, with Bank of Communications down 3.7 percent.
* Canadian coal miner SouthGobi Energy Resources tumbled 7.7 percent after it reported a first-quarter loss of $162.3 million as the company lost millions in China Investment Corp convertible debentures and derivatives.
* Electronic power meter maker Wasion Group fell 3.2 percent. The company said it would team up with Siemens Ltd China to conduct research on the feasibility of smart grid pilot projects in China, including smart consumption of electricity.
((Reporting by Jun Ebias; Editing by Chris lewis))
((jun.ebias@thomsonreuters.com; +852 2843 6537; Reuters Messaging: jun.ebias.reuters.com@reuters.net))
((If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com))
Pan-Asia...... Japan........ S.Korea....
S.E. Asia............ Hong Kong... Taiwan.....
Australia/NZ......... India....... China......
OTHER MARKETS:
Wall Street........... Gold......... Currency..
Eurostocks........... Oil........... JP bonds...
ADR Report.......... LME metals.. US bonds...
Stocks News US... Stocks News Europe...
DIARIES & DATA:
IPO diary & data Asia earnings diary
U.S. earnings diary European diary
Taiwan diary Wall Street Week Ahead
Eurostocks Week Ahead World forecasts
TOP NEWS:
For top Asian company news, double click on:
U.S. company news European company news
Forex news Global Economy news
Technology news Telecoms news
Media news Banking news
Politics/General news Asia Macro data
A multimedia version of Reuters Top News is available at:
http://topnews.session.rservices.com LIVE PRICES & DATA: World Stocks
Currency rates
Dow Jones/NASDAQ Nikkei
FTSE 100 Debt
Hong Kong Dollar LME price overview
($1=6.825 Yuan) Keywords: MARKETS HONGKONG STOCKS
Keywords: MARKETS HONGKONG STOCKS
HONG KONG, May 17 (Reuters) - By 0345 GMT, the benchmark Hang Seng Index had fallen 2.4 percent at 19,670.46. The China Enterprise Index of top locally listed mainland stocks was down 3 percent.
Here are some stocks on the move:
* Export counters such as contract cellphone maker Foxconn International fell 7.4 percent and Europe-focused fashion retailer Esprit dropped 7 percent on concern that sharp cuts in government spending in Europe will slow growth in the area, hurting corporate profits.
Foxconn also fell after JPMorgan cut its price target on the stock to HK$5.40 from HK$8.00 due to slower earnings expectations, dealers said.
British lender HSBC also slipped 2.4 percent on the lingering sovereign debt woes in Europe.
Esprit, HSBC and Chinese banks were among the most actively traded stocks in the session.
* Industrial & Commercial Bank of China slid 2.5 percent. The lender has selected four banks to handle its Shanghai fundraising, sources said on Friday, aiming to raise 25 billion yuan ($3.7 billion).
Other Chinese lenders were also weak, with Bank of Communications down 3.3 percent.
* Canadian coal miner SouthGobi Energy Resources tumbled 11.3 percent after it reported a first-quarter loss of $162.3 million as the company lost millions in China Investment Corp convertible debentures and derivatives.
* Electronic power meter maker Wasion Group fell 2.6 percent. The company said it would team up with Siemens Ltd China to conduct research on the feasibility of smart grid pilot projects in China.
((Reporting by Jun Ebias; Editing by Ken Wills))
((jun.ebias@thomsonreuters.com; +852 2843 6537; Reuters Messaging: jun.ebias.reuters.com@reuters.net)) Pan-Asia...... Japan........ S.Korea.... S.E. Asia............ Hong Kong... Taiwan..... Australia/NZ......... India....... China...... OTHER MARKETS: Wall Street........... Gold......... Currency.. Eurostocks........... Oil........... JP bonds... ADR Report.......... LME metals.. US bonds... Stocks News US... Stocks News Europe... DIARIES & DATA: IPO diary & data Asia earnings diary U.S. earnings diary European diary Taiwan diary Wall Street Week Ahead Eurostocks Week Ahead World forecasts TOP NEWS: For top Asian company news, double click on: U.S. company news European company news Forex news Global Economy news Technology news Telecoms news Media news Banking news Politics/General news Asia Macro data A multimedia version of Reuters Top News is available at: http://topnews.session.rservices.com LIVE PRICES & DATA: World Stocks Currency rates Dow Jones/NASDAQ Nikkei FTSE 100 Debt Hong Kong Dollar LME price overview ($1=6.825 Yuan) Keywords: MARKETS HONGKONG STOCKS (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
