Friday, April 5, 2013

Hong Kong hit by bird flu fears #H7N9

April 5, 2013, 5:36 a.m. EDT
HONG KONG (MarketWatch) — Hong Kong stocks on Friday suffered their worst drop in more than eight months as worries about the impact from a new strain of avian flu in China hurt sentiment, slamming airline shares in particular. 
Hong Kong’s Hang Seng Index HK:HSI -2.73%  slid 2.7%, its worst percentage decline since late July, following reports of deaths linked to a new strain of avian flu. Airline stocks in Europe were also hit by the news.

Excerpt from
For the Mainland newly emerging H7N9 avian flu, according to the Hong Kong Economic Times reported, Pu Yong-ho, chief investment officer of Credit Suisse Private Banking in Greater China Securities research director Zhou Wenling and UBS Wealth Management Asia Pacific believes that the impact on the stock market is still small, Zhou Wenling , H7N9 will investment confidence influential, but also depends on the Mainland, crisis management, outbreak Will there be proliferation of good pharmaceutical shares is expected to affect tourism and consumer spending, "no real impact on the stock market, but beware of the black swan. 

No comments: