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Asia: Hang Seng retreats, Mengniu slumps 60% external link

Rate   ShareCast | Tue, Sep 23

Tue, Sep 23  UK -
Hong Kong clothing retailer Esprit Holdings fell nearly 5% on concern about declining sales amid the economic downturn.

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 Hong Kong Hang Seng Bank (11) rose by nearly 7%, Bank of East Asia (23) rose by more than 3% while BOC Hong Kong (2388) soared by nearly 11%. Apart from Li & Fung (494), stocks in the export sector were gaining as Esprit Holdings (330) rose by nearly 2% while ...

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In Hong Kong, the Hang Seng Index declined 1.3% to 16578.61 after the authorities released last Friday figures that showed the local economy shrank 4.3% in the first quarter, the largest drop since 1990. Fashion retailer Esprit Holdings ( ESHDY - news ...

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Esprit, which makes 85 percent of sales in Europe, fell as much as 6.8 percent to HK45.60, the biggest intraday drop since May 8, compared with a 2.7 percent drop in the benchmark Hang Seng Index. Esprit traded at HK$46.05 at the midday break. ...

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Esprit Holdings Ltd. added 3.6 percent to HK$51.30. The biggest clothing retailer listed in Hong Kong said nine-month sales in stores open at least a year rose 6 percent. Comparable store sales gained 6.9 percent in Europe, 0.4 percent in Asia and 1.6 ...

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