HONG KONG Oct 29 Hong Kong real estate stocks
slid on Monday as investors locked in profits in the
outperforming sector after the city announced new property
cooling measures on Friday aimed at curbing price increases.
Shares of New World Development, which before
Monday had jumped 104 percent on the year, were set to open down
7 percent. Rival Sun Hung Kai Properties was set to
start down 4.5 percent.
The Hang Seng Property Index, a sub-index that
tracks the seven Hong Kong and two Chinese developer stocks that
are components on the Hang Seng Index, was set to open
down 3.4 percent.
The Hang Seng Index was indicated to start down 0.3 percent.
(Reporting by Clement Tan; Editing by Anne Marie Roantree)