Hong Kong Leads Asia Downward

(MENAFN- Baystreet) Hong Kong Leads Asia Downward








Hong Kong stocks led Asia-Pacific markets lower on Tuesday, in their return from a National Day holiday on Monday.
In Japan, the Nikkei 225 tumbled 521.94 points, or 1.6%, to 31,237.94.
In Hong Kong, the Hang Seng returned from a long weekend to dump 478.44 points, or 2.7%, to 17,331.22.
Shares of Hong Kong-listed property stocks were in the red. Country Garden Holdings plunged 7.18%, while Longfor Group Holdings lost 4.8%. New World Development shed 6.7%, and Henderson Land Development traded 6.2% lower.
Energy stocks also posted losses, with PetroChina losing 5.9% and China Petroleum & Chemical Corp dipping 5.1%.
Markets in Australia lost ground after that country's central bank held rates at 4.10%, as expected by a Reuters poll.
CHINA
Markets in Korea, and Shanghai were shuttered for holiday.
In other markets
In Taiwan, the Taiex index handed back 75.79 points, or 0.6%, to 16,162.89.
In Singapore, the Straits Times Index subtracted 16.51 points, or 0.5%, to 3,192.89.
In New Zealand, the NZX 50 dropped 7.57 points, or 0.1%, to 11,235.72.
In Australia, the ASX 200 subtracted 89.79 points, or 1.3%, to 6,943.42.

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