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With an aim to increase its revenues, the Indian Railways has formulated plans to make Rs.8000 crores via commercial development of railway land across the country.

Several brokerages lowered predictions for Hong Kong economic growth, and Mainland markets posted sharp declines to help drive Hong Kong stocks lower after a two-day rally.

Hong Kong blue chips fell by as much as 200 points Thursday morning after release of high Chinese January inflation numbers indicated China would slow its recent credit-loosening moves.

Chinese blue chips found early support at 19,000, news that China's "big four" banks had increased new loans the last two weeks triggered a strong rebound in higher turnover.