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3 months ago
Hong Kong stocks down, break six-day winning streak
May 16, 2017 / 8:19 AM / 3 months ago

Hong Kong stocks down, break six-day winning streak

May 16 (Reuters) - Hong Kong stocks turned lower on Tuesday after touching 21-month intraday highs, breaking a six-session winning streak, as investors took profit despite overnight strength on Wall Street.

The Hang Seng index fell 0.1 percent, to 25,335.94, while the China Enterprises Index lost 0.2 percent, to 10,433.69 points.

Hong Kong shares appeared to have been immune so far to China's stepped-up crackdown on financial leverage, a campaign which has partly helped drive Chinese money southward into Hong Kong stocks.

On Tuesday, the Hong Kong market was weighed down by the property sector, amid lingering concern that Hong Kong-listed Chinese developers would suffer from Beijing's tighter property restrictions.

The financial sector also sagged, as Postal Savings Bank of China slumped nearly 6 percent, while China Huarong Asset Management dropped almost 2 percent. (Reporting by the Shanghai Newsroom; Editing by Shri Navaratnam)

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