Hong Kong Exchange’s Arculli Says Outlook Worries Investors
“The U.S. seems stable but yesterday’s meltdown makes the outlook uncertain again,” Arculli said in Hong Kong today. The “situation in Europe and Greece has been worrying and unstable for the market,” he said.
Hong Kong stocks fell today, dragging the benchmark Hang Seng Index to its biggest weekly drop since November as concern mounted that Europe’s debt crisis will spread and halt the global economic recovery. The Hang Seng Index declined 0.7 percent to 19991.40 as of 11:03 a.m. local time, widening its losses this week to 5.3 percent.
“In Asia, China, the outlook is stable although I am a little worried about inflation there,” said the chairman of the company that operates Asia’s third-biggest stock market. “There are new measures that China is taking to stabilize the property market, so any fluctuation in the market now isn’t a surprise.”