Hong Kong stock index ends flat; banks fall but property stocks up
March 27 (Reuters) - Hong Kong stocks ended flat on Friday, with banking heavyweights down but property stocks firmer after news of government measures to support the real estate sector.
Financial stocks fell after China's major state-owned lenders reported lacklustre annual results this week that point to slower profit growth and rising bad loans in a slowing economy.
Bank of Communications Co Ltd said on Thursday its bad loan ratio rose to 1.25 percent, the highest level since 2010.
But property stocks jumped after state media reported Beijing had issued notices urging local governments to support residents needing to improve their housing conditions, and reduce or even suspend land supply in cities where there was a surplus of housing.
The Hang Seng index dipped 0.04 percent to 24,486.20, while the China Enterprises Index lost 0.2 percent, to 11,898.09.
Among the most actively traded stocks on Hong Kong's main board were Dinghe Mining, up 0.4 percent to HK$0.23, China Mining, up 0.7 percent to HK$0.16, and ICBC , down 1.3 percent to HK$5.50.
Total trading volume of companies included in the HSI index was 1.7 billion shares. (Reporting by Samuel Shen and Pete Sweeney; Editing by Alan Raybould)
© Thomson Reuters 2017 All rights reserved.