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Hong Kong shares slip, led by fall at Sun Hung Kai Properties
October 7, 2013 / 8:05 AM / 4 years ago

Hong Kong shares slip, led by fall at Sun Hung Kai Properties

HONG KONG, Oct 7 (Reuters) - Hong Kong shares fell on Monday, led by Sun Hung Kai Properties on fears of weak demand after local media said the world’s second-largest real estate developer was offering cash discounts at a relaunched project.

The Hang Seng Index finished down 0.7 percent at 22,974 points, extending losses on Friday. The China Enterprises Index of the top Chinese listings in Hong Kong shed 0.9 percent.

Sun Hung Kai Properties shares sank 2.6 percent, closing at their lowest since Sept. 13. Overall turnover was weak as investors steered from risk with the U.S. budget impasse showing no signs of resolution.

Mainland Chinese markets will resume trading on Tuesday after a one-week holiday. Data for September money supply and loan growth due from Tuesday will start a fresh batch of China economic data.

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