HSI down 0.07% at 17,444 points (Il Sole 24 Ore Radiocor) - Hong Kong , 05 Sep - Hong Kong share prices closed flat to slightly lower amid mixed Asian markets.

The Hang Seng index closed down 0.07% at 17,444 points.

The city's stocks hovered at a two-week low amid global market turmoil as they tracked a selloff on Wall Street spurred by weak US manufacturing data.

In another sign of slowing growth, China's services industry cooled in August, with a private purchasing managers' index in the sector dropping to 51.6 from 52.1 in July.

In Hong Kong stock market dealings several Chinese developers edged higher amid optimism over reports that the country is considering a two-phase interest rate reduction to support its struggling property sector.

On Wednesday, China's financial regulators proposed cutting interest rates on up to 5.3 trillion use worth of existing mortgages to lower borrowing costs for millions of homeowners and alleviate pressure on the banking sector, Bloomberg reported, citing sources familiar with the discussions.

Energy stocks again were among the biggest decliners, extending the weeks losses on oil demand concerns and offsetting optimism surrounding the property market.

Technology stocks were slightly higher, with the Hang Seng Tech index up 0.14%.

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(RADIOCOR) 05-09-24 12:07:33 (0279) 5 NNNN