Hong Kong property stocks head for worst day since 2008

Sino Land

22/05/2020 08:44

** Property sub-index  .HSNP  fall more than 8% to the
lowest since March 24
    ** Percentage decline is the worst since 2008 
    ** The sell-off was triggered by China's proposed
legislation to ensure national security in Hong Kong
 urn:newsml:reuters.com:*:nB9N2A602F
    ** Sino Land  0083.HK  leads the decline in benchmark Hang
Seng Index  .HSI , down 10.6% in late trade
    ** Seven biggest losers in the index are all property stocks
    ** Link Reit  0823.HK  falls 10.1%, while New World
Development  0017.HK  declines 9.9%
    ** Sun Hung Kai Properties  0016.HK  and CK Asset  1113.HK 
are both down over 8%
    **Realtors say some potential buyers are putting purchase
plans on hold to observe the situation 
    ** Hang Seng Index drops 5.5%, or over 1,300 points