Hong Kong shares close almost one percent lower
Hong Kong shares fell 0.98 percent Friday as fears over Greece debt
crisis mixed with measures aimed at restricting property speculation in
The benchmark Hang Seng Index gave up 210.45 points to end at
21,244.49. Turnover was 63.23 billion Hong Kong dollars (8.15 billion
The city's property chips have been hit after Financial Secretary
John Tsang said Wednesday the government may hike transaction tax on
property valued at or below 20 million Hong Kong dollars as part of
effort to avoid an asset bubble.
However, "the uncertainty over property in China is even greater,"
Louis Wong, research director at Phillip Securities, told Dow Jones
"There are all sorts of speculation and rumours about various types
of property taxes that could be introduced there," he said.
In Hong Kong Sun Hung Kai Properties dropped 1.5 percent to 111.60
Hong Kong dollars and Cheung Kong fell 0.9 percent to 98.05.
Among China developers, China Resources Land fell 3.0 percent to
14.18 and China Overseas lost 2.8 percent to 14.70.