HONG KONG Feb 24 Hong Kong-listed China shares
closed at their lowest level in two weeks on Monday, hurt by
mainland news reports which stoked fears that banks are
tightening loans to property developers.
The China Enterprises Index of the leading offshore
Chinese listings in Hong Kong ended down 1.4 percent at its
lowest close since Feb. 10. The Hang Seng Index shed 0.8
percent to 22,288.6 points, slipping back below its 200-day
moving average, where it stayed for most of last week.
The official Shanghai Securities News reported on Monday
that Industrial Bank and other banks may have
stopped extending loans to property developers and tightened
lending to other property-related sectors such as steel, cement
Belle International surged 5.9 percent as
investors cheered the China-focused shoe retailer's positive
earnings, which also buoyed its rival Daphne International
by 4 percent.