Word: seng
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Dates: during 1980-1989
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Such forebodings have caused Hong Kong to react sharply to each twist and turn in the power struggle next door. The Hang Seng index, the main indicator of value of the Hong Kong Stock Exchange, swung wildly throughout the week. After dropping nearly 11% on Monday, the index rose 9.3% the next day on signs that the Chinese crisis might be easing. But the continued unrest in China led to further whipsawing that left the index at 2765.67 when trading ended Friday, down a substantial 12% for the week...
...global financial crash last October. At a stormy news ! conference held when trading resumed, the contentious Li argued that he had given investors a chance to calm down. But his action had the opposite effect: it created a pent-up pressure to sell. After the exchange reopened, the Hang Seng stock index plunged by 33% in a single...
...closest associates, including Sun and Tsang, have been excluded from the exchange's reorganized governing committee. Some Hong Kong traders were concerned about how the market would react to Li's arrest. Investors, however, seemed to applaud the government's crackdown. Last week the Hang Seng index rose 6.5%, to 2452.52, though it still stood nearly 40% below the peak it had reached before the crash...
Nowhere did the chaos of Black Monday strike harder than in the tiny Asian entrepot. When the Hang Seng index dived 11% within hours on that day, the Hong Kong Stock Exchange simply vaporized, and Exchange Chairman Ronald Li closed it down for four days. When trading reopened last Monday, the value of shares plummeted an additional 33%, to about $50 billion, wiping out a year's gains. "This is not a stock market," said a furious Hong Kong local moneyman. "This is a poorly run casino...
Traders in red waistcoats on the Hong Kong Stock Exchange floor trade in a rush as the Hang Seng index of 30 stocks opens at 3783. In 40 minutes, it drops 133 points. The index ends the day down 421, the worst point loss ever. Officials close the exchange for four days...