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France's downgrade sink stocks in Asia

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Asia_2 November 20, 2012 (Chinavestor) Despite a broad rally in the US, Chinese stocks fell apart the next day following France's downgrade. Each and every component of the DJIA advanced on Monday but Moody's downgrade of France took a toll on invetors' risk appetite in China. The Hang Seng Index (INDEXHANGSENG:.HSI) fell 33.8 points or 0.2% while the Shanghai Composite Index (SHA:000001) declined 0.4%. Airliners led the decline among components of the Hang Seng Index (INDEXHANGSENG:.HSI). China Eastern Airlines (HKG:0670) fell 2.2% while larger competitor China Southern Airlines (HKG:1055) declined 1.7%. BYD Company (HKG:1211) fell 3.6%, the most among components of the 50 member index.

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