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China stocks decline on euro fears on Black Friday

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decline1 November 25, 2011 (Chinavestor) Stocks fell in Asia on Friday as tensions in Europe rose. The Hang Seng Index (INDEXHANGSENG:.HSI) fell 387.2 points or 2.2% while the Shanghai Composite Index (SHA:000001) shed 17.6 points or 0.7% on Friday. Weak demand and higher interest rates on Germany's bund auction highlighted fears that even the presumably most secure German debt came under pressure. Germany's PMI fell to 47.9 vs. 48.5 in-line with industrial orders decline in the eurozone of 6.4% vs. 2.7 expected. China's PMI is also below 50 for the month, a contraction and sign that the world second largest economy is feeling the European cool-off.

 

 

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