Property fears trip China, Hong Kong shares; earnings lifts Belle

lunes 24 de febrero de 2014 04:55 GYT
 

* HSI -0.8 pct, H-shares -1.4 pct, CSI300 -2.2 pct

* Industrial Bank may have halted property loans- official Shanghai newspaper

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

* Belle International soars after improved 2013 earnings

By Clement Tan

HONG KONG, Feb 24 (Reuters) - China shares suffered their biggest loss in seven weeks on Monday, hurting Hong Kong markets, after mainland news reports stoked fears that banks have tightened loans to property developers.

Monday's losses, which erased a recent rebound for Chinese property shares, were rooted in fears of new moves by authorities in their four-year campaign to rein in risks of a possible asset-bubble as home prices have surged.

"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," Hong added.   Continuación...