Tuesday, July 17, 2007

Hong Kong Stocks Slide on China Rate Concern; Sinopec, Citic Pacific Fall

(Bloomberg) -- Hong Kong's Hang Seng Index fell,
after yesterday closing above 23,000 for only the second time,
after a report said China's central bank will step up efforts to
cool the economy. China Petroleum & Chemical Corp. and Citic
Pacific Ltd. led the decline.

Mainland reports scheduled for release tomorrow are
expected to show gross domestic product rose at a double-digit
pace for a sixth straight quarter and inflation accelerated to a
two-year high, according to Bloomberg surveys of economists.


Read more at Bloomberg Stocks News

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