Hang Seng falls the most in six weeks

Hong Kong's Hang Seng posted its biggest one-day loss in six weeks on Tuesday, as Wall Street weakness in the wake of a spike in global bond yields prompted investors to lock in profit in high-flying Hong Kong stocks. At close of trade, the Hang Seng index was down 359.60 points, or 1.09 percent, at 32,607.29. The Hang Seng China Enterprises index fell 1.98 percent to 13,389.38. The sub-index of the Hang Seng tracking energy shares dipped 2.8 percent while the IT sector dipped 1.85 percent, the financial sector was 1.28 percent lower and property sector dipped 0.3 percent.
The top gainer on Hang Seng was Country Garden Holdings Co Ltd, up 2.09 percent, while the biggest loser was Hang Lung Properties Ltd which was down 5.41 percent. As of the previous trading session, the Hang Seng index was up 10.19 percent this year, while China's H-share index was up 16.7 percent.
The top gainers among H-shares were China Merchants Bank Co Ltd up 2.04 percent, followed by Guangzhou Automobile Group Co Ltd gaining 1.72 percent and Great Wall Motor Co Ltd up by 1.04 percent. The three biggest H-shares percentage decliners were China Minsheng Banking Corp Ltd which was down 3.95 percent, PetroChina Co Ltd which fell 3.7 percent and Bank of China Ltd down by 3.5 percent.