Market Open: Hang Seng seen lower on renewed Greek fears
The Hang Seng is expected to open lower on renewed concerns over Greece, where international lenders have clashed over reducing the nation's crushing debt burden.
The Hang Seng is expected to open lower on renewed concerns over Greece, where international lenders have clashed over reducing the nation's crushing debt burden.
Euro zone finance ministers suggested that Athens should be given until 2022 to lower its debt to a ratio of 120 per cent of gross domestic product (GDP) but International Monetary Fund (IMF) chief Christine Lagarde insisted that lenders should stick to the existing target of 2020.
Overnight, the Standard & Poor’s 500-stock index closed down 5.5 points, or 0.40 per cent, to close at 1,374.53. The Nasdaq Composite shed 20.37 points, or 0.07 per cent, to finish at 2,883.89. In London, the FTSE-100 Index gained 18.98 points, or 0.33 per cent, to finish at 5,786.25.
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The local furniture maker said net profit for the six months ended September 30 surged 54 per cent from a year earlier to HK$219 million due to rising sales and higher profit margins.
The property developer said it has agreed to acquire a 61 per cent stake in two properties from Topsearch International (2323.HK) for 213 million yuan.
