Hang Seng Index finish off 18,000 support line at midday
17/9/2008 17:05
Hong Kong stocks fell 339.41 points, or 1.85 percent, off the key support
line of 18,000, to finish today's morning session at 17,961.20.
Hong Kong's
benchmark Hang Seng Index once fell 342.40 points, or 1.87 percent to 17,958.21,
during today's morning session.
Hong Kong stocks rose 390.69 points, or 2.13
percent, to open today's morning session at 18,691.30, following the US Federal
Reserve announced an unprecedented deal to rescue insurance giant American
International Group overnight.
The US Federal Reserve announced yesterday an
unprecedented US$85 billion rescue loan to save insurance giant American
International Group from bankruptcy amid fears of a catastrophic effect on
financial markets.
Barclays announced in a statement today that it had
reachedan agreement to acquire Lehman Brothers North American investment banking
and capital markets businesses.
Hong Kong's benchmark Hang Seng Index
yesterday plunged 1,052.29 points, or 5.44 percent, to close at 18,300.61, the
lowest close in nearly 23 months, amid worries of a global financial turmoil
after investment bank Lehman Brothers filed for
bankruptcyprotection.
Xinhua
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