Hong Kong shares hit 8-month low on Fed, China Mobile news
HONG KONG, March 20
HONG KONG, March 20 (Reuters) - Hong Kong shares tumbled to an eight-month low on Thursday as disappointing China Mobile earnings and news that the Federal Reserve could raise U.S. interest rates sooner than expected battered the market.
The Hang Seng Index ended down 1.8 percent at 21,182.16, its lowest close since July 10. The China Enterprises Index of the top Chinese listings in Hong Kong fell 1.7 percent.
China Mobile dropped 3.6 percent, to its lowest close since April 2009, after the company reported its first annual profit fall in 14 years. Profit in 2013 was down 5.9 percent to 121.8 billion yuan ($19.66 billion), below analyst estimates. ($1 = 6.1965 Chinese Yuan) (Reporting by Alice Woodhouse; Editing by XXX)
- Ukraine accuses Russia of 'open aggression' as rebels advance |
- Disruptive Hong Kong protests loom after China rules out democracy |
- European investors hold nerve as Russia-Ukraine warnings ratchet up
- Fighting erupts between Syrian army, rebels on Golan Heights |
- Pakistani protesters clash with police, soldiers secure state TV |