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Hong Kong: US, China data hits sentiment
by hlk Tue 12 Jul 2011, 08:07
SHARES fell 1.67 per cent yesterday after the US released weaker-than-expected jobs data and China said inflation hit a three-year high in June.
The benchmark Hang Seng Index shed 379.20 points to 22,347.23.
"The US jobs debacle and this ongoing eurozone problem are really not creating an environment where funds want to get in," a Hong Kong-based trader said, adding that long-only funds were getting money from investors but fund managers were more keen to sit on cash at the moment. - Agencies
The benchmark Hang Seng Index shed 379.20 points to 22,347.23.
"The US jobs debacle and this ongoing eurozone problem are really not creating an environment where funds want to get in," a Hong Kong-based trader said, adding that long-only funds were getting money from investors but fund managers were more keen to sit on cash at the moment. - Agencies
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