Greece's debt crisis and probable credit tightening in China prevailed over the stock market, and share prices in HK fell as a result. The market in Hong Kong has been affected by the negativity in China and Greece.
Hang Seng Index fell 0.25 percent. Turnover declined to HK$61.7 billion ($$7.9 billion) from HK$65.9 billion on Wednesday.
The Chinese state radio on Tuesday reported that U. K. Foreign Secretary David Miliband has warned not to pressurize China regarding the issue of currency exchange rates. This was stated two days after Premier Wen Jiabao said that external pressure on the currency was obstructing Beijing currency improvements.
On Saturday, the Financial Times reported that the world’s leading search engine, Google is now “99.9%” sure to shut its Chinese search engine after a long battle with China over censorship.
Google has decided to remain silent on this issue and refused to give any details on discussion with the Chinese Government.
China is rejoicing yet again, with official figures revealing that the country's exports managed to climb by 46% during the month of February. Not only has this been a good news for China, but the whole world, as the rise signifies a strong recovery in global trade after the deep slump which had been a result of the global financial crisis.
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