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City Journalist Directory - Hong Kong Stocks hit 9 Month High Friday, June 12, 2009
CJD » Asia » Hong Kong » Central | » News » Current Affairs » Hong Kong Stocks hit 9 Month High Friday, June 12, 2009
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Hong Kong Stocks hit 9 Month High Friday, June 12, 2009

Hong Kong shares rose for the 3rd straight day and hit a nine month high as investor confidence grows

The 19,000 point barrier was reached for the first time this year

Analyst Comments :-

• "Pushing the index above 19,000 points was crucial to creating the impression that this is a bull market," said DBS Vickers director Peter Lai.

• "But at this level selling pressure is very high. Funds that bought into the market at 12,000-13,000 points have already begun to take profit," he said.

Banks Leading the Revival :-

• Global lender HSBC climbed 3.2 percent to HK$69.65,lifted by encouraging retail sales and jobs data from the U.S.

• Chinese bank stocks jumped after data showed new yuan lending rose in May, in line with expectations

Asia is proving to be very resilient in these present times of economic turmoil!

Happened on June 12, 2009

Location: Asia: Hong Kong: Central

Topics: News: Current Affairs

Listed on June 14, 2009 02:13:49 AM

Last updated on July 29, 2014 09:45:54 AM

Submitted by Asia Fashion

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