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HK's worst month in 2012

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decline_6 May 31, 2012 (Chinavestor) Chinese stocks ended the month lower on Thursday as the European crisis dagged on and China's 2008 style large stimulus is ruled out. The Shanghai Composite Index (SHA:000001) fell 12.4 points or 0.5% on Thursday and is off 23.3 points or 0.97% off for all of May. The Hang Seng Index (INDEXHANGSENG:.HSI) slid 60.7 points or 0.3% for the day but its performance for the month is something else. The index lost a 2012 record of 2464 points or 11.68% in May. Chinese financial institutions advanced in Hong Kong following news that a 2008 like big stimulus is not happening. Excess lending may settle banks with bad debt, investors fear. Chinese airliners fell on the other hand, China Eastern Airlines (HKG:0670) suffering the most among 42 components of the Hang Seng Index (INDEXHANGSENG:.HSI). Air China (HKG:0753), the nation's flagship carrier, fell 1.24%.

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