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Tuesday, July 5, 2016, 16:12

Hang Seng falls 1.5 percent

By Reuters

HONG KONG - Hong Kong stocks fell on Tuesday as investors locked in some of their profit after three straight sessions of gains with consumer staples and property stocks leading the slide.

The Hang Seng Index fell 1.5 percent to 20,750.72, and the China Enterprises Index slid 1.8 percent to 8,643.31. Both indices posted their biggest daily percentage declines since June 24.

The weakness defied a rise in mainland shares and comes as a private sector survey on Tuesday showed June activity in China's services sector rising to an 11-month high, indicating Beijing is making progress in rebalancing the economy.

Rice cracker maker Want Want fell 5.1 percent in its biggest daily percentage decline since July 8 last year. Property group Hang Lung slid 3.5 percent, and coal producer China Shenhua was down 2.6 percent.

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