HONG KONG Feb 24 China shares sank to a
two-week low early on Monday, dragging Hong Kong markets down,
led by property and banking counters as mainland news reports
stoked fears that the banks have stopped extending loans to
At 0140 GMT, the CSI300 of the leading Shanghai
and Shenzhen A-share listings was down 2.1 percent, while the
Shanghai Composite Index was down 1.7 percent at 2,076.9
The Hang Seng Index was down 1 percent, while the
China Enterprises Index of the leading Chinese listings
in Hong Kong was down more than 2 percent.
China Vanke dived more than 6 percent in
Shenzhen and Poly Real Estate tanked more than 7
percent in Shanghai. In Hong Kong, Agile Property
tumbled nearly 7 percent, while China Overseas Land
sank 4.1 percent.
The official Shanghai Securities News, among other
publications, reported on Monday that some banks have started to
tighten loans to steel, cement and other property-related
sectors. Several banks have issued denials.
Average home prices in China's 70 major cities rose 9.6
percent in January 2014 from a year earlier, easing from the
previous month's 9.9 percent rise, according to Reuters
calculations based on official data published on Monday.