Property stocks lead slide in Hong Kong market, gaming shares also down

Sino Land

02/02/2017 08:08

HONG KONG, Feb 2 (Reuters) - Hong Kong stocks fell on 
Thursday, with property stocks leading the slide, as investors 
continued to lock in gains after the U.S. Federal Reserve stuck 
to its mildly upbeat economic view but gave no hint of when it 
would next raise interest rates. 
    The benchmark Hang Seng index  .HSI  slid 0.6 percent to end 
at 23,184.52 points, while the China Enterprises Index  .HSCE  
also fell 0.6 percent, to 9,696.32 points. 
    While strong economic data from the United States and 
elsewhere underpinned risk assets, uncertainty and concerns over 
U.S. President Donald Trump's policies left markets on edge. The 
Federal Reserve on Wednesday held interest rates steady in its 
first meeting since Trump took office. 
    Real estate developers led the slide with the property 
subindex  .HSNP  falling 0.7 percent. Shares of Sino Land Co Ltd 
 0083.HK , which rose 11 percent in January, fell 1.4 percent. 
China Resources Land Ltd  1109.HK  slid 1.5 percent. 
    Macau gaming stocks remained weak after the world's biggest 
casino hub posted a less-than-expected rise in January gambling 
revenue.  urn:newsml:reuters.com:*:nENNH210RT  
    Wynn Macau Ltd  1128.HK  fell 4.1 percent and Galaxy 
Entertainment Group Ltd  0027.HK  slid 1.7 percent.  
    China's markets remain shut for the Lunar New Year holiday 
and will resume trade on Friday.    
 
 (Reporting by Donny Kwok; Editing by Randy Fabi) 
 ((donny.kwok@thomsonreuters.com; +852 2843 6470; Reuters 
Messaging: donny.kwok.reuters.com@reuters.net)) 
 
Keywords: CHINA STOCKS/HONGKONG CLOSE