http://www.bloomberg.com/news/2012-03-23/fed-s-bullard-says-monetary-policy-may-be-at-a-turning-point.html

The Hang Seng Index fell 1.2 percent to 20,660.37 as of 1:25 p.m. in Hong Kong. For the week, the index is heading for a 3 percent decline, its biggest weekly drop since November. The Hang Seng China Enterprises Index (HSCEI) of mainland companies listed in the city slid 1.2 percent to 10,637.71. “The prospect of negative earnings in the first quarter hasn’t been priced in yet,” said Wang Weijun, an analyst at Zheshang Securities Co. in Shanghai. “Bad data from Europe may also change investors’ risk appetite.”