BEIJING May 7 Hong Kong shares finished down on
Wednesday, as concerns about valuations of property and tech
stocks hurt investor confidence after a U.S. tech sell-off.
The Hang Seng Index closed down 1.1 percent at
21,746.26. The China Enterprises Index of the leading
offshore Chinese listings in Hong Kong was down 0.9 percent.
US tech woes spilled into Hong Kong, with the HSI
information technology subindex down 3.4 percent to
its lowest level since Dec. 27 amid persisting concerns that
sector valuations may be too high. Index heavyweight Tencent
Holdings declined 3.8 percent.
The Hong Kong real estate subindex dropped 1.6
percent, as investors worried about local demand for housing and
exposure to the sector in the mainland.
China Resources Land Ltd was down 4.7 percent and
China Overseas Land and Investment lost 4.5 percent.
Wharf Holdings Ltd shed 2.5 percent.
(Reporting by Natalie Thomas; Editing by Richard Borsuk)