Reuters logo
Hong Kong shares extend losses, HSCE breaks below key technical support
April 5, 2013 / 5:35 AM / in 5 years

Hong Kong shares extend losses, HSCE breaks below key technical support

HONG KONG, April 5 (Reuters) - Hong Kong shares extended losses in heavy trade on Friday, with growth-sensitive sectors taking some of the bigger hits on escalating worries that a new strain of bird flu in China could hurt the economy.

Traders said losses were exacerbated by an exit of funds from the territory following the Bank of Japan’s unprecedented aggressive monetary easing announced on Thursday, a day Hong Kong markets were shut for a public holiday.

At 0523 GMT, the China Enterprises Index of the leading Chinese listings in Hong Kong was down 3.1 percent at 10,435.1, extending losses after earlier breaking below its 200-day moving average at about 10,508.9.

It was the first time the H-share index traded below that technical level since Nov. 21, pointing at more losses ahead in the short term.

The Hang Seng Index fell 2.6 percent to its lowest in four months.

Japanese shares jumped to near five-year highs and government bond prices rose sharply on Friday, with the long-end of the yield curve inverting as the Tokyo Stock Exchange twice halted trade in Japanese government bond futures.

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below