On Thursday Hong Kong shares fell for a third consecutive. The benchmark index will probably keep capped until next week. Even a strong start to Chinese banking results failing to lift the benchmark towards prior highs The Hang Seng index closed down 0.4 percent.
In a two-month The main stock index fell 1.3 percent low with the weakest performers in property and cement counters. Analyst at Nanjing Securities, Wen Lijun said “Ahead of a holiday, investors are always cautious, especially as rumors are flying around.” over the past three months, China’s second-largest cement producer, Anhui Conch Cement which is the top drag on the Shanghai Composite with output capacity shed 6 percent the stock had climbed some 36 percent.
In a note to clients, Greater China analyst at Julius Baer, Alan Lam said further government tightening on local property market and Worries about a possible interest rate hike this weekend may continue to drag on the A-share market. Chinese car dealer Pangda Automobile Trade Co owner of the IPO market as shares got weak market sentiment was also evident with slumped 23 percent on their trading debut. The top developer China Vanke down 1.1 percent make the property sub-index fell 1.4 percent. (Reuters.com)
