Hong Kong shares slip on weak mainland property data

SHANGHAI Fri Oct 24, 2014 9:07am BST

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SHANGHAI Oct 24 (Reuters) - Hong Kong shares finished lower on Friday, dragged down by weak Chinese property data and corporate results from major companies.

The Hang Seng Index unofficially closed down 0.1 percent at 23,302.20 points. The China Enterprises Index of the leading offshore Chinese listings in Hong Kong fell 0.5 percent.

For the week, the two indexes were up 1.2 percent and 1.5 percent, respectively, posting the biggest weekly gains since early September.

Property shares fell following a fifth straight month of declines in home prices in China in September and the prospect of a greater supply of flats in Hong Kong as the government tries to rein in prices.

China's biggest maker of sport utility vehicles Great Wall Motor fell 5.1 percent after it reported a 22 percent decline in its third-quarter profit.

Kingsoft Corp plunged 11.9 percent after the company issued a profit warning on Thursday that it would record a significant decline in operating profit for the third-quarter. (Reporting by Shanghai Newsroom; Editing by Jacqueline Wong)

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