Greater London, England -- (SBWIRE) -- 05/05/2011 -- Spread betting provider City Index (http://www.cityindex.co.uk/) takes a look at the activity shaping the spread betting markets on 4th May 2011, including the Hang Seng Index trading down.
The commerce and industry segment of the Hang Seng Index has so far proven to be the biggest drag on the stock index today (May 4th).
As of 15:36 local time in Hong Kong, the Hang Seng Index had retreated by 1.56 per cent, with the commerce and industry segment down by 1.87 per cent.
A 1.79 per cent decline was noted for the properties sector, while finance and utilities had fallen by 1.40 per cent and 0.09 per cent respectively.
Reuters asserted that utilities stocks performed relatively better as expectations of power shortages in China sent China Resources Power Holdings' share price higher. Strong energy demand could see tariff costs increase.
Furthermore, declining metal and crude oil prices weighed down energy stocks on the Hang Seng Index, with mining firms particularly hit hard.
Meanwhile, as of 08:00 BST, the Shanghai Composite Index had retreated by 2.23 per cent, a more than 65-point fall.
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