Hong Kong shares slump for 2nd day; tech, property stocks dip
Hang Seng down 1.67% at 18,028 points (Il Sole 24 Ore Radiocor) - Hong Kong , 21 Jun - Hong Kong shares closed broadly lower for a second day, leading the losses amid muted Asian markets after a mixed session on Wall Street overnight.
The city's stocks further retreated from their biggest daily gain in three months on Wednesday.
The Hang Seng index closed down 1.67% at 18,028 points. On Wednesday the benchmark index bounced back from near two-month lows hit last week, recovering the 18,000 mark.
In the city's stock market dealings property shares dipped for a second straight day after the People's Bank of China's left its one- and five-year loan prime rates unchanged, despite mixed economic data released earlier this week that underscored the country's bumpy recovery.
The former serves as a benchmark for most corporate and household loans and the latter for property mortgages.
The Hang Seng Mainland Properties Index sank 1.00%.
Technology stocks also dropped for a second day after Wednesday's rally. The Hang Seng Tech Index slid 1.76%.
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(RADIOCOR) 21-06-24 12:08:18 (0312) 5 NNNN