June 12, 2017 / 8:23 AM / in 2 months

Hong Kong stocks end lower, tech sell-off triggers profit-taking

2 Min Read

June 12 (Reuters) - Hong Kong stocks fell the most in nearly two months on Monday, as a slump in tech shares - fanned by the sell-off in their U.S. counterparts - triggered broader profit-taking in what had been one of the world's best-performing equity markets this year.

Sentiment was also hurt by worries that tighter credit in China could slow growth in the world's second-biggest economy.

The Hang Seng index fell 1.2 percent, to 25,708.04, while the China Enterprises Index lost 1.0 percent, to 10,485.85 points.

Hong Kong-listed tech shares dropped sharply, following a sell-off on Friday in technology stocks on Wall Street that was triggered by concerns about Apple's new iPhones and a cautious Goldman Sachs report about the sector.

An index tracking IT shares tumbled 2.4 percent, led by Chinese tech giant Tencent Holdings Ltd.

Shares fell across the board.

Bucking the trend, China Vanke rose 1.7 percent in Hong Kong, after Shenzhen Metro became its top shareholder, replacing rival developer China Evergrande Group. (Reporting by Samuel Shen and John Ruwitch; Editing by Jacqueline Wong)

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