[R]6:00AM New York, 6:00 PM Hong Kong - Hang Seng falls 1.91% for the week.[/R]

Market sentiment

In Hong Kong trading the benchmark Hang Seng Index declined 0.25% or 61.18 at 24,197.78, down 1.91% for the week, and the China Enterprises Index of Hong Kong-listed companies, or H shares, fell 1.65% or 212.33 at 12,675.43, falling 5.10% for the week.

In Shanghai trading, CSI 300 Index dropped 3.37% or 114.13 to 3,272.50.

Daily turnover on Hong Kong main board was HK$79.89 billion compared to HK$72.66 billion yesterday.

Hong Kong February exports rise 5.5%

The Census and Statistics Department of Hong Kong said yesterday that the volume of total goods exports gained 5.5%, while the volume of imports increased 9.8% in February from the same period a year earlier.

According to the statistics department, re-exports of goods also advanced 5.9% and domestic exports dropped 4.5% from the same period a year ago.

Also total goods exports rose 2.8 % and the price of goods imports increased 3.5%.

In addition, February’s total export volume to the Chinese mainland and Germany rose 12.2% and 7.4% respectively, while that to Japan, the United States and the United Kingdom declined 0.7%, 16.4% and 20.3% correspondingly.

The volume of Hong Kong''s re-exports of goods in the first two months of the year grew 11.4%, while domestic exports fell 2.6% from the comparable period a year ago.

Similarly, the volume of total exports of goods in the two-month period rose 10.9% while the volume of imports gained 13.7%.

Hong Kong interest rates plummets 0.98% in March

Xinhua News Agency reported today that the Hong Kong Monetary Authority said yesterday the Hong Kong composite interest rate declined 0.98% at the end of March from 1.35% at the end of February. March fall of 37 basis points follows a decline of 33 basis points in February.

HKMA Deputy Chief Executive Peter Pang said yesterday he expected the composite interest rate to be further affected by changes in U.S. interest rates and domestic liquidity conditions.

Local interbank offering rates fell between 18 and 130 basis points across the board in March.

Gainers & Losers

Hong Kong technology stocks gained after IBM and Intel profits beat analyst forecasts and after IDC reported yesterday PC shipments worldwide increased 14.6% in the first quarter.

Lenovo gained 1.35% and chipmaker SMIC advanced 3.64% on speculation the company is on the verge of selling a stake to a significant investor.

Also, China Mobile rose 1.9% on the expectations that its quarterly earnings on Monday will beat analyst estimates.

PetroChina lost 2.77% to HK$9.82 on news its Shanghai stock fell below its IPO price of Rmb16.70 for the first time to a low of Rmb16.0 on fears that high oil prices will cause losses at its refining operations.