HONG KONG, Sept 18 (Reuters) - Hong Kong shares finished lower on Thursday after weak Chinese housing data heightened concerns of a deepening downtrend in the property sector that is weighing on the broader economy.
China’s new home prices fell in August for a fourth straight month and declines spread to a record number of cities.
The Hang Seng Index ended 0.9 percent down at 24,168.72 points after it snapped an eight-day decline on Wednesday by rising 1 pct. The China Enterprises Index of the leading offshore Chinese listings in Hong Kong also slid 0.9 percent.
Property stocks were some of the heaviest hit. China Resources Land sank 2.8 percent, a leading percentage loser on the Hang Seng, and China Overseas Land & Investment shed 1.8 percent.
China Mobile declined 1.2 percent to a three-week closing low, while China Unicom skidded 1.7 percent. Telcos have been under pressure since a Tuesday report on the 21st Century Business Herald said Apple Inc’s iPhone 6 is not likely to enter the mainland market this year.
Reporting by Grace Li; Editing by Jacqueline Wong