04.05.2012 - Hong Kong stocks fall as CCB drops on Temasek stake sale
Hong Kong stocks retreated from a seven-week high with China Construction Bank (939) Corp. leading the decline as Singaporeís sovereign wealth fund sold $2.4 billion of mainland lendersí shares. Stocks also fell as unemployment in Europe climbed to a 15-year high. China Construction Bank slid 3.1 percent on a report Temasek Holdings Pte. sold $1.6 billion of the lenderís shares. Esprit Holdings Ltd., a clothier that gets about 80 percent of sales in Europe, fell 4.3 percent. New World Development Co. led property companies down after the government sold land in one of the cityís most exclusive areas for less than estimated...............................................Full Article: Source
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