Reply #9: HK shares chill amid record oil, credit worries [View All]

[Ghost Dog]

HONG KONG, Feb 20 (Reuters) - Hong Kong stocks slid on
Wednesday amid worries that record oil prices could fan inflation
risks, damping hopes for more deep interest rate cuts by the U.S.
Federal Reserve and depressing rate-sensitive property shares.

A report that KKR Financial Holdings (KFN.N: Quote, Profile, Research), the listed
affiliate of private equity group Kohlberg Kravis Robers & Co
had delayed repayments on billions of dollars of debt
stoked credit worries and sent the market to
steeper losses in the afternoon.

Record oil above $100 a barrel and rallying copper and gold
prices boosted some resource stocks, but high crude prices were
an overall negative for the broad market.

...

The benchmark Hang Seng Index .HSI finished down 2.2
percent, or 532.59 points, at 23,590.58, near the day's low. The
China Enterprises index of H-shares , or Hong Kong-listed
shares in mainland companies, fell 3 percent, or 420.12 points,
to 13,552.82.

/.. http://www.reuters.com/article/marketsNews/idCAHKG30016520080220?rpc=611