Hong Kong shares open lower on profit-taking ahead of US rate decision |
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Published
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Wed, 31 Oct 2007 03:04
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HONG KONG (XFN-ASIA) - Share prices opened lower on profit-taking after the key index hit record highs over the last four sessions, with trade also cautious ahead of the US Federal Reserve's interest rate decision tonight.Property stocks continued to be under pressure after news of share placements at Sun Hung Kai Properties and Hang Lung Properties, while China stocks were lower after recent strong gains.The Hang Seng index opened down 107.26 points or 0.34 pct at 31,530.96.The property sub-index was down 623.23 points or 1.64 pct 37,382.31, while the Hang Seng China Enterprises index was down 313.38 points or 1.54 pct at 20,086.69.Bank of Communications was down 0.24 hkd or 1.66 pct at 14.22 on profit-taking after its results announcement. The bank reported that its third-quarter net profit nearly doubled to 5.93 bln yuan on strong growth in net interest income.Bank of China was down 0.05 hkd or 1.01 pct at 4.88 after reporting relatively slow growth in third-quarter net profit at 23 pct year-on-year to 15.93 bln yuan.roby.lau@xfn.comrl/rc-xfnrl/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.
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Quotes * |
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NASDAQ
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1535.57 |
+3.47 (
0.23 %)
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| SYMBOL (
2007-09-26 ) |
| LAST |
CHANGE
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HANSON
(
12:41pm )
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1099.00 |
+3.00 (
0.27 %)
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AMVESCAP
(
11:35am )
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607.50 |
+2.50 (
0.41 %)
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| SYMBOL (
2008-11-28 )
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| LAST |
CHANGE
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| SYMBOL (
2008-11-28 )
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| LAST |
CHANGE
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Hong Kong share outlook - Lower on profit-taking ahead of FOMC announcement 