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- China's Sinopec Signs Joint Venture Agreement with Saudi Aramco Worth $4 Billion
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16/11/2009 00:00 AST
In Hong Kong Friday, the Hang Seng Index added 0.7% to close at 22,554, and the Shanghai Composite Index rose 0.5% to end the day at 3,188. Shares fell in Tokyo, sending the Nikkei Index down 0.4% to 9,770.
According to the International Monetary Fund, Hong Kongs economic recovery is fragile. This was emphasized by figures showing a rise in GDP of only 0.4% -- lower than economists had forecast. Meanwhile, the Hang Seng continued its rise with banks registering gains today. Bank of China (BACHY) gained 3.2%, Industrial & Commercial Bank of China (IDBCY) rose 1.9% and Standard Chartered (SCBFF) added 2.9%.
HSBC (HBC) racked up a 1.8% gain after reporting positive third quarter gains earlier in the week. Today rumors are swirling that the bank will sell its East London headquarters building for £800 million ($1.3 billion) to Koreas National Pension Service, according to Reuters. The building is located on the Isle of Dogs at Canary Wharf, Londons newest financial hub.
For more on this:
http://www.dailyfinance.com/2009/11/13/asian-markets-shares-in-hk-rise-in-fragile-recovery/#
Daily Finance
| Ticker | Price | Volume |
|---|
| Index | Closing | Change |
|---|---|---|
| NIKKEI 225 | 36,581.76 | -251.51 (-0.68 |
| DAX | 18,699.40 | 181.01 (0.97 |
| S&P 500 | 5,626.02 | 30.26 (0.54 |
29/04/2025
Senior diplomats from the BRICS grouping of nations gathered Monday in Brazil to present a united front in the face of US President Donald Trump's aggressive trade policies. The meeting comes at a cr
AFP
28/04/2025
Spiralling inflation in the Euro-Zone was finally stabilized last year after an unprecedented cycle of policy rate increases by the European Central Bank (ECB). The ECB began the record tightening se
The Peninsula
28/04/2025
Egypt's unemployment rate declined to 6.6 percent in 2024, down 0.4 percent from the previous year, driven by lower joblessness across both urban and rural areas and by growth in sectors such as agri
Arab News
28/04/2025
Saudi Arabia and Qatar have agreed to jointly pay approximately $15 million to settle Syria's arrears to the World Bank, a move set to unlock renewed development funding for the war-torn country.
Arab News
28/04/2025
From fresh tariffs and fracturing alliances to recession warnings, the headlines scream turmoil. But for investors willing to tune out the noise and focus on the underlying data, there are solid reas
Trade Arabia
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