MARKETS & INVESTING | Staff Reporter, Hong Kong

Hang Seng Index drops to its lowest since July 2009

It declined 1.5 percent to 17,407.80 amidst fall of Europe-related shares.

A Bloomberg report said, “Esprit Holdings Ltd., the clothier that gets most of its revenue from Europe, slid 3.7 percent. Henderson Land Development Co., the Hong Kong builder controlled by billionaire Lee Shau-kee, tumbled 6.1 percent after the city’s weekend used-home transactions fell. Jiangxi Copper Co., China’s largest producer of the metal, sank 9.3 percent after commodity prices slid. China Yurun Food Group Ltd. (1068), a meat processor, tumbled 31 percent after saying it expects third-quarter profit to decline.”

Meanwhile the Hang Seng China Enterprises Index of Chinese companies listed in Hong Kong dropped 3.3 percent to 8,735.40.

View the report here.

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