Start your own group! All DESIGN 21 members have the ability to create organizations.

Create A Group
BP Holdings Barcelona & Madrid Spain

BP Holdings Barcelona & Madrid Spain

Well-being, Community

87 Supporters

  • BP Holdings Review: Hong Kong stocks end 1.50% lower

    Communication, Industrial Design

    bp holdings review Hong Kong shares have fallen 1.50 per cent in line with a big sell-off in mainland markets after Beijing introduced fresh measures to curb rising property prices in China. The benchmark Hang Seng Index shed 342.41 points on Monday to 22,537.81 on turnover of HK$82.84 billion ($A10.53 billion). The losses wiped out most of the gains from the previous session. China announced on Friday that homeowners who sell their properties will have to pay a capital gains tax of 20 per cent on their profits. Homeowners were previously taxed one to two per cent of the sale price. The government also ordered the central bank to raise downpayments and mortgage lending rates for buyers of second homes in some cities, and told local governments to limit non-residents from buying more than one home. The benchmark Shanghai Composite Index ended down 3.65 per cent, or 86.11 points, at 2,273.40 on turnover of 143.0 billion yuan ($A22.66 billion), its weakest finish since January 11, when the index ended at 2,243.00. "Before Friday, there was still the question as to whether controlling the property market will remain a policy priority for the new government. This latest announcement should remove any doubt," UOB KayHian said in a note. "Either the property market will have to cool down or more measures will be introduced until the objective is achieved," UOB said, according to Dow Jones Newswires. In Hong Kong, China Overseas Land tumbled 7.1 per cent to HK$21.45 and China Resources Land slumped 8.9 per cent to HK$20.60, while Sunac China closed down 9.9 per cent at HK$5.28 and Greentown China fell 9.5 per cent to HK$13.40. The news also hit construction firms. Anhui Conch Cement dropped 4.8 per cent to HK$27.80 and China National Building Material fell 3.1 per cent to HK$11.76. However, Castor Pang, research head at Core Pacific-Yamaichi, said "this is just a correction, a pause in the market's uptrend". bp holdings review



Leave a Response

Fields marked * are required

No file selected (must be a .jpg, .png or .gif image file)

Once published, you will have 15 minutes to edit this response.


Blogs on Small Business & Personal Business

Join This Group

BP Holdings Barcelona & Madrid Spain

Gran Via de les Corts Catalans
plant 5, Barcelona 8011
+34 93 306 34 99

Contact BP Holdings Barcelona & Madrid Spain

Moderator: Chloe Anister