Hong Kong stocks track broader Asia lower, Chinese property firms jump

** Hong Kong-listed shares of Chinese property developers jumped on expectation of further measures by local governments to shore up their markets in the fourth quarter. ** The sub-index of the Hang Seng tracking energy shares dipped 0.1%, while the IT sector fell 1.71%, the financial sector dropped 1.89% and the property sector rose 1.86%.

Hong Kong shares tracked broader Asia lower on Monday, with most investors staying on the sidelines due to a week-long holiday in China. ** The Hang Seng index was down 204.21 points, or 1.19%, at 17,018.62. The Hang Seng China Enterprises index fell 1.16% to 5,845.29.

** New World Development was the biggest loser on the Hang Seng Index, falling as much as 6.5% to its lowest since December 2008 after setting a lower sales target for China. ** The property firm set a 15 billion yuan ($2.11 billion) sales target for China in the 2022/23 fiscal year, lower than the 17.1 billion yuan in sales achieved in 2021/22.

** The top gainer on the Hang Seng was Country Garden Services, which rose 8.48%. ** Hong Kong-listed shares of Chinese property developers jumped on expectation of further measures by local governments to shore up their markets in the fourth quarter.

** The sub-index of the Hang Seng tracking energy shares dipped 0.1%, while the IT sector fell 1.71%, the financial sector dropped 1.89% and the property sector rose 1.86%. ** The three biggest H-share percentage decliners were Postal Savings Bank of China Co Ltd, which was down 9.72%, China Feihe, which fell 5.45%, and Ping An Insurance Group, down by 3.83%.

** Around the region, MSCI's Asia ex-Japan stock index was weaker by 0.77% amid recession fears, while Japan's Nikkei index was up 0.37%. ($1 = 7.1135 Chinese yuan)

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)