Hong Kong Stocks Plunge on China Measures to Curb Inflation « Live China NewsHong Kong stocks fell by the most in almost seven weeks on speculation China will further tighten monetary policy to tame inflation.
Sands China Ltd. (1928), Asia?s No. 1 casino company by market value, dropped 3.1 percent after earnings by its Las Vegas-based parent missed analysts? estimates. Citic Resources Holdings Ltd. fell 9.7 percent, the biggest drop in two years, after the oil and coal producer said it plans to raise HK$2.5 billion ($322 million) by selling shares.
?You?ve got a slower-than-expected economy coupled with the stickiness of higher inflation, so people in the market are probably going to wait and see before the next consumer price index numbers come out,? said Michael Liang, chief investment officer at Foundation Asset Management (HK) Ltd., which oversees $120 million. ?People may be edgy that the CPI is going to hit a new high.?
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Hong Kong Stocks Plunge on China Measures to Curb Inflation « Live China News
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