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Wednesday, November 16, 2016, 16:50

Shares edge down, led by financial and real estate stocks

By Reuters

Hong Kong stocks slipped in thin trading on Wednesday, with gains erased late in the day as financial shares dropped and real estate shares fell for a fourth straight day on fears of rising interest rates.

The benchmark Hang Seng index lost 0.2 percent to 22,280.53 points, while the Hong Kong China Enterprises Index dipped 0.4 percent, to 9,368.54 points.

A index for the information technology sector was up nearly 2 percent, lifted by index heavyweight Tencent Holding Ltd which jumped nearly 2 percent, as investors remained keen on technology shares ahead of the launch, expected this month, of a link connecting the Shenzhen and Hong Kong markets.

Gains in the energy and resources sector were capped as coal slumped in mainland as speculators cashed out of futures markets, worried that regulators may move to tame price swings.

The real estate index dropped 0.76 percent on continuing fears of rising mortgage rates after US Treasury yields bolted higher.

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