* HSI down 1.0 pct, CSI300 down 1.9 pct
* Indices dragged by financials, real estate
* Mainland investors wary of clampdown on housing prices -
* Small- and medium-caps in focus as blue chips underperform
By Yimou Lee
HONG KONG/SHANGHAI, Feb 19 Stock markets in Hong
Kong declined for a second straight day on Tuesday, weighed down
by real estate and financials, as investors grew concerned that
both Beijing and Hong Kong would launch more curbs to cool
rising property prices.
The Hang Seng Index closed down 1 percent at
23,143.91. The China Enterprises Index of the top
Chinese listings in Hong Kong shed 1.8 percent.
The Shanghai Composite Index ended down 1.6 percent
at 2,382.91. The CSI300 of the top Shanghai and
Shenzhen A-share listings shed 1.9 percent. Both suffered their
worst loss in more than a month.
"The overall market sentiment has turned a little bit
cautious," said Alex Wong, director of asset management at Ample
Finance Group, adding that investors in both on- and offshore
markets were concerned about policy risks.
"I will take a wait-and-see attitude."
China Vanke, China's largest property developer
by sales, slid 4.3 percent in Shenzhen. In Hong Kong, China
Resources Land lost 4.4 percent, its worst decline
since August 2012, while China Overseas Land fell 3.3
Macau gambling stocks were hit by worst-than-expected
gambling revenue for the first 17 days of February.
Sands China was down 4.4 percent, while Galaxy
Entertainment Group Ltd fell 4.9 percent. MGM China
Holdings Ltd fell 3.9 percent.
"Participants are unloading their shares ahead of upcoming
corporate earnings in particular in a directionless market,"
said Alfred Chan, chief dealer at Cheer Pearl Investment.
Analysts said tepid mainland sentiment was affecting
investors in Hong Kong, who were disappointed when exchanges in
Shanghai and Shenzhen failed to rally again when mainland
markets reopened on Monday after a week-long holiday.
"The market may go into short-term consolidation, waiting
for more news," said Linus Yip, strategist at First Shanghai
Securities in Hong Kong, adding that market fundamentals are
still strong as global fund managers continue to go into stock
"The index is locked in a range and traders may turn their
eyes to some mid- and small-cap stocks," Yip said.
Shares of SCMP Group Ltd, the publisher of Hong
Kong's South China Morning Post, fell 7.4 percent, its worst
decline since september 2011, after the company said on Monday
it was in talks regarding the possible acquisition of a group of
Cheuk Nang (Holdings) Ltd rose 3.6 percent after
the company said it expected to record a significant increase in
profit for the six months ended in December.