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BUX loses 0.71% as Chinese rate-hike worries weigh on sentiment

The Budapest Stock Exchange's blue-chip BUX index closed Thursday trade down 0.71%, snapping a three-session gaining streak as rising speculation among investors that China's central bank will hike interest rates following the publication of higher-than-expected economic-growth and inflation data weighed on share indices throughout Europe.

The BUX lost 162.13 points on a composite exchange turnover of HUF 27.32 billion, the third-consecutive session in which the Budapest Stock generated relatively brisk trade of over HUF 20 billion after surpassing that plateau only once in the bourse's previous 31 sessions from December 3 until January 17. The BUX fluctuated in a 1.33% range between an intra-session an intra-session high of 23,040.61 at 11:00 a.m. and an intra-session low at the index's closing mark of 22,733.67.

The mid-cap BUMIX index also declined on Thursday, losing 21.02 points, or 1.07%, to 1,950.99.

BSE blue-chips stood as follows at Thursday's closing bell:

Drug company Richter lost 1.32% to HUF 42,100 on a turnover of HUF 1.93 billion;

Oil and gas company MOL declined 0.71% to HUF 22,340 on a turnover of HUF 6.84 billion;

OTP Bank lost 0.55% to HUF 5,619 on an exchange-high turnover of HUF 15.54 billion;

Magyar Telekom gained 0.55% to HUF 550 on a turnover of HUF 1.96 billion.

The BSE Big Four generated 96.16% of the exchange's composite Thursday turnover.

Other major central and eastern European blue-chip stock indices also closed lower on Thursday, with Prague's PX-50 losing 1.34% and Warsaw's WIG-20 declining 1.17%. (MTI – Econews)