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Wednesday, April 19, 2017, 17:47

Hong Kong stocks fall for 3rd day amid global equity gloom, weak mainland markets

By Reuters

SHANGHAI - Hong Kong stocks fell for the third straight session on Wednesday, following global equities lower as worries about France's presidential election and tensions over Democratic People's Republic of Korea (DPRK) dampened investors' appetite for riskier assets.

Sentiment was also hurt by a four-day losing streak in China's stock market, as investors worry that Beijing's stepped-up property curbs and deleveraging campaign will slow China's economic growth.

The Hang Seng index fell 0.4 percent to 23,825.88 points, while the China Enterprises Index lost 0.6 percent to 9,983.73. Most sectors fell.

The Hong Kong-traded shares of China Minsheng Banking dropped 1.7 percent, after the lender said a branch manager was being investigated by police.

The probe could involve over 150 high net-worth customers and up to 3 billion yuan (US$435.74 million), according to a Caixin report.

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