HSI down 1.65% at 17,691 points (Il Sole 24 Ore Radiocor) - Hong Kong , 02 Sep - Hong Kong share prices closed sharply lower, leading the losses amid mixed Asian markets.

The Hang Seng index closed down 1.65% at 17,691 points after rising 2.6% in August.

Property stocks sank in Hong Kong dealings after a survey showed new home prices in August grew at their weakest pace this year.

The Hang Seng Mainland Properties Index sank 4.69%.

Shares in New World Development Co dipped 12.99% after the ailing property developer said it expected to post its first annual loss in two decades.

Property stocks rose in the previous session after Bloomberg News reported that China was considering allowing homeowners to refinance up to 5.4 trillion US dollars in mortgages, a move that could lower borrowing costs for millions of families and stimulate consumption.

Technology stocks also fell today in Hong Kong dealings, with the Hang Song Tech index down 2.08%.

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(RADIOCOR) 02-09-24 12:38:53 (0263) 5 NNNN