Hong Kong shares open sharply lower as China Mobile, others track ADR falls |
|
|
|
Published
:
Fri, 12 Oct 2007 03:21
|
HONG KONG (XFN-ASIA) - Share prices opened sharply lower as index heavyweight China Mobile tracked falls in its American Depositary Receipts (ADRs) overnight, along with other mainland firms such as China Life Insurance and China Unicom.Dealers said there was also profit-taking pressure after the market's record-setting run, which saw the key index breach the 29,000 points level yesterday.Wall Street's declines overnight kept the mood generally cautious.China's Xinjiang Xinxin Mining Industry opened sharply higher on its trading debut.The Hang Seng index opened down 359.96 points or 1.24 pct at 28,773.06.China Mobile was down 4.10 hkd or 2.96 pct at 131.10 and China Unicom was down 0.36 hkd or 2.23 pct at 15.80 after their ADR prices fell more than 2 pct last night.Xinjiang Xinxin opened at 12.20 hkd, up 87.69 pct from its IPO price of 6.50.jun.concepcion@xfn.comjc/rc-xfnjcc/xfnrcCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
|
|
|
|
Print this Story
Hong Kong shares turn higher led by China financials; index hits new high 