Hong Kong shares closed lower as property-related stocks fell amid renewed concerns that more companies could seek repayment extensions.
$SHIMAO GROUP(00813.HK)$ fell 20% while $Shimao Services(00873.HK)$ declined 32%. Among HSI constituents, $Country Garden Services Holdings(06098.HK)$, $CHINA RES LAND(01109.HK)$ and $COUNTRY GARDEN(02007.HK)$ dropped 10%, 4.7% and 4.5%, respectively.
Another notable decliner was $weibo(810166.HK)$, whose H-shares were down 9.6%. The $Hang Seng Index(800000.HK)$ ended 1.3% lower at 23635.95 while the $Hang Seng TECH Index(800700.HK)$ fell 2.3% to 5884.82
(yongchang.chin@wsj.com)