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  • Hong Kong Stocks falls 1.4%

    18-Sep-2023 | 15:27

    Hong Kong share market finished session steep lower on Monday, 18 September 2023, as market sentiment dampened amid worries about slump in the China property sector and amid caution ahead of the Federal Reserves monetary policy announcement due on Wednesday.

    At closing bell, the benchmark Hang Seng Index declined 252.34 points, or 1.39%, to 17,930.55. The Hang Seng China Enterprises Index dropped 100.07 points, or 1.59%, to 6,209.52.

    Among blue chips, Alibaba Group weakened 2.4% to HK$84.20, e-commerce rival dropped 2.9% to HK$121, while food delivery platform operator Meituan slipped 1.9% to HK$122. Tencent declined 1.6% to HK$312.20.

    Shares of property developers declined cent on concerns property prices will weaken as seven banks in the city prepare to raise mortgage rates. Hong Kong developers Sun Hung Kai Properties, New World Development and Henderson Land each slipped by almost 2%.

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