Beverly Hills 2/6/2010 5:03:32 AM
News / Business

European Fears Spook Hong Kong

Gene Linn’s China Weekly Roundup Blog, EQUITIES Magazine

China specialist Gene Linn talks about European debt worries and the current dismal environment.

“As if China-related stocks in Hong Kong didn’t have enough problems…. Bears have had a firm grip on the Hong Kong market since at least mid _January when worries over Chinese inflation and economic tightening intensified. The blue-chip Hang Seng Index slumped almost 9% from January 13 to Thursday this week. Then global markets, including Hong Kong, plummeted on Friday when fear mounted that Greece, Spain and Portugal might default on their debt.

Friday’s debacle pushed the Hang Seng 3.3% lower, well below the psychological 20,000 level. The index ended the week down 2.3%, 461 points, at 19,661. The index of Chinese companies fell 3.2%, 366 points, to 11,132…”

To continue reading this post and to read more of Gene Linn’s China’s Weekly Roundup, click here.

 

About Gene Linn:

 

After studying Chinese language in the Army, Gene Linn earned Bachelor’s Degree in journalism and a Master’s in East Asian Studies, focusing on Chinese language and politics. He worked for 14 years as a freelance business reporter in Hong Kong. One of his jobs was to write daily Hong Kong stock market reports for UPI for four years. He started writing a column on China-related stocks for EQUITIES Magazine in 2004.

 

About EQUITIES:

 

Since 1951, EQUITIES Magazine has been a leading media company providing business editorial content designed to serve the needs of business leaders, professionals, institutional investors and retail investors. We are focused on business and the business of making money, not on lifestyle subjects. We publish original reporting in print and on our website, as well as select content at www.nasdaq.com. For 28 years we have hosted our own branded investor conferences that connect public company CEO’s with our loyal readers in the investment community.

 

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