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Hong Kong dragged down by property shares, banks

HONG KONG (MarketWatch) -- Hong Kong shares declined early Wednesday after a weaker finish on Wall Street and concern that Beijing might further tighten policy amid expectation China's consumer prices jumped in October. Property developers and banks were particularly weak. The Hang Seng Index /quotes/comstock/08s!i:hsi (HK:HANGSENG 24,674, -36.12, -0.15%) slipped 0.2% to 24,655.07 and the Hang Seng China Enterprises Index dropped 0.4% to 13,971.89. Shares of Industrial & Commercial Bank of China Ltd. /quotes/comstock/22h!e:1398 (HK:1398 6.70, -0.06, -0.89%) /quotes/comstock/11i!idcby (IDCBY 43.52, -1.08, -2.42%) dropped 0.9%, China Resources Land Ltd. /quotes/comstock/22h!e:1109 (HK:1109 15.94, -0.26, -1.61%) /quotes/comstock/11i!crbj.y (CRBJY 0.00, 0.00, 0.00%) gave up 1.5% and China Overseas Land & Investment Ltd. /quotes/comstock/22h!e:688 (HK:688 16.82, -0.18, -1.06%) /quotes/comstock/11i!caovy (CAOVY 0.00, 0.00, 0.00%) declined 2%. Meanwhile, China's Shanghai Composite Index /quotes/comstock/16k!i:000001 (CN:SHCOMP 3,123, -12.18, -0.39%) dropped 0.9%. Read more at www.marketwatch.com

 

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