China shares hit 2-week low on property jitters, Hong Kong sinks too

lunes 24 de febrero de 2014 00:50 GYT
 

* HSI -1.3 pct, H-shares -2.3 pct, CSI300 -2.6 pct

* One China bank may have halted property loans - mainland news report

* China Vanke tests 5-year low; cement, banks dive too

* Belle International rises on positive 2013 earnings

By Clement Tan

HONG KONG, Feb 24 (Reuters) - China shares tumbled to their lowest in two weeks early on Monday, hurting Hong Kong markets, roiled by mainland news reports saying banks have begun tightening property loans.

China Vanke dived more than 6 percent after the official Shanghai Securities News reported on Monday that Industrial Bank may have stopped some types of property-related loans, though several other banks have left property-loan policies unchanged.

"I would get out of interest rate-sensitive sectors. It's very hard to navigate right now with policy risk on the rise," said Hong Hao, Hong Kong-based chief equity strategist at Bank of Communication International.

"Property prices in many cities are still rising and that's not a good sign coming ahead of the annual parliamentary meetings that start next week," Hong added. Those meetings are due to start March 5 in Beijing.   Continuación...