Hong Kong stocks fall, with property weak «
HONG KONG (MarketWatch) — Hong Kong stocks started lower Tuesday, tracking overnight weakness in U.S. equities, with property and financial shares posting broad declines. The Hang Seng Index /quotes/zigman/2622475/realtime HK:HSI -0.43% lost 0.8%, as Shimao Property Holdings Ltd /quotes/zigman/36732/realtime HK:813 -1.66% fell 2.4%, China Resources Land Ltd /quotes/zigman/14892/realtime HK:1109 +1.54% /quotes/zigman/14893/delayed/quotes/nls/crbjf CRBJF -3.25% lost 2%, and Poly Property Group Co. Ltd /quotes/zigman/7040/realtime HK:119 -0.98% dropped 1.2%. Chinese banks were weak, as Industrial & Commercial Bank of China /quotes/zigman/37346/realtime HK:1398 -0.40% /quotes/zigman/37349/delayed/quotes/nls/idcbf IDCBF -1.52% declined 1.2%, and Bank of China Ltd /quotes/zigman/35803/realtime HK:3988 -0.58% /quotes/zigman/529024/delayed/quotes/nls/bachy BACHY -2.78% moved lower by 0.9%. China Merchants Bank Co. /quotes/zigman/37142/realtime HK:3968 -0.67% /quotes/zigman/37144/delayed/quotes/nls/cihhf CIHHF -6.19% gave up 0.7%, failing to get a lift from news that the U.S. approved the expansion of its subsidiary Wing Lung Bank in California. Market heavyweight China Mobile Ltd. /quotes/zigman/22400/realtime HK:941 -0.32% /quotes/zigman/263044/delayed/quotes/nls/chl CHL -0.16% lost 0.8%, as Cleveland Research reportedly suggested iPhone 5s preorders at the China wireless provider have been trending below expectations. China Mobile was scheduled to distribute iPhones in China on Friday after reaching a long-awaited deal with Apple Inc. /quotes/zigman/68270/delayed/quotes/nls/aapl AAPL +0.11% in December. On the Chinese mainland, the Shanghai Composite Index /quotes/zigman/1859015/realtime CN:SHCOMP +0.86% edged lower by 0.3%.