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NEWS - Hong Kong Shares Close Down 0.3 Pct, Chinese Property Slides

Hong Kong Shares Close Down 0.3 Pct, Chinese Property Slides

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Hong Kong shares retreated further from a three-month closing high on Tuesday, dragged down by the Chinese banking and property sectors after a newspaper report stoked fears that local governments could impose more curbs on home sales.

Hong Kong shares retreated further from a three-month closing high on Tuesday, dragged down by the Chinese banking and property sectors after a newspaper report stoked fears that local governments could impose more curbs on home sales.

The Hang Seng Index closed down 0.3 percent at 22,930.3 points, in its second straight loss after closing last Friday at its highest since mid-February. The China Enterprises Index of the top Chinese listings in Hong Kong shed 0.7 percent.

The CSI300 of the leading Shanghai and Shenzhen A-share listings fell 1.5 percent, while the Shanghai Composite Index closed down 1.1 percent at 2,217 points. The losses were the worst for both indexes since April 23.

HIGHLIGHTS:

China Resources Land dived 3 percent after the 21st Century Business Herald reported that pre-sales licenses for new housing projects in Beijing now require the added approval of the deputy mayor.

Standard Chartered rebounded 2.4 percent from Monday's more than five-month closing low. U.S. activist investors Muddy Waters told a conference last week it had bet against the bank because of its "deteriorating" loan quality.


 

 

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