Hong Kong shares close down 0.1 pct, AIA sinks

HONG KONG Tue Dec 18, 2012 3:05am EST

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HONG KONG Dec 18 (Reuters) - Hong Kong shares slipped for a second straight day on Tuesday, pulled lower by a 3.3 percent loss for AIA Group after American International Group sold its remaining stake in the Asian insurance giant.

The Hang Seng Index closed down 0.1 percent at 22,494.7. The China Enterprises Index of the top Chinese listings in Hong Kong edged up 0.1 percent.

In the mainland, the Shanghai Composite Index and the CSI300 of the top Shanghai and Shenzhen listings both edged up 0.1 percent.

HIGHLIGHTS:

* AIA Group slid to HK$30.60 at the resumption of trade after American International Group sold its remaining stake in AIA for $6.45 billion. The deal was priced near its top end at HK$30.30 per share after it had been marketed at HK$29.65-HK$30.65 apiece.

* Chinese property plays were hit by data that showed home prices in China's 70 major cities rose in November for the fourth month in the last five. The continuing strength of home prices makes it unlikely that Beijing will relax property market curbs any time soon. China Overseas Land shed 1.9 percent.

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