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Hong Kong shares end lower; property, financial stocks weak
October 23, 2017 / 8:17 AM / 2 months ago

Hong Kong shares end lower; property, financial stocks weak

Oct 23 (Reuters) - Hong Kong stocks fell on Monday, led by banking and property shares, amid concerns of slowing economic growth in China, where government curbs are hurting real estate sales.

The Hang Seng index fell 0.6 percent, to 28,305.88, while the China Enterprises Index also lost 0.6 percent, to 11,491.07 points.

Fresh data showed growth in new home prices in China slowed to a crawl in September, rising just 0.2 percent from the previous month.

China’s housing minister said on Sunday that the country’s property sales would slow in the fourth quarter but prices would remain stable, reiterating the government’s position that “houses are for living in, not for speculation.”

An index tracking property shares fell 0.6 percent, while the financial sector dropped 0.8 percent.

Reporting by the Shanghai Newsroom; Editing by Jacqueline Wong

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