HSI Drops 161 Pts; HK Developers Soft

$Hang Seng Index(800000.HK)$ opened 161 pts or 0.9% lower at 18,659. $Hang Seng China Enterprises Index(800100.HK)$ opened 49 pts or 0.8% lower at 6,636. $Hang Seng TECH Index(800700.HK)$ opened 33 pts or 0.9% lower at 3,821.

Many Chinese cities lowered their down payment ratios and interest rate floors, including T1 cities, Guangzhou and Shenzhen. Chinese property developers $CHINA OVERSEAS(00688.HK)$ and $CHINA RES LAND(01109.HK)$ ebbed 1.8% and 1.5%.