Stocks de­cline on HSBC stum­ble

China Daily (Hong Kong) - - NATION | DIGEST -

Hong Kong stocks fell, with the bench­mark in­dex drop­ping the most in a month, af­ter HSBC Hold­ings Plc missed earn­ings es­ti­mates and amid spec­u­la­tion the Fed­eral Re­serve is closer to re­duc­ing stim­u­lus. HSBC, Europe’s largest bank, ac­counted for more than half the Hang Seng In­dex’s point de­cline af­ter CEO Stu­art Gul­liver said a slow­down in emerg­ing mar­kets was hurt­ing profit. The Hang Seng In­dex fell 1.3 per­cent to close at 21,923.70, halt­ing a three-day rally. Six stocks fell for each that rose on the 50-mem­ber gauge. The Hang Seng China En­ter­prises In­dex of main­land com­pa­nies lost 0.8 per­cent to close at 9,650.42.

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