July 7, 2014 / 8:10 AM / in 4 years

Hong Kong shares flat, Macau gambling stocks are losers

HONG KONG, July 7 (Reuters) - Hong Kong shares finished flat on Monday, as strength in the property sector was undercut by losses for Macau casino stocks that recently rallied.

The Hang Seng Index closed little changed at 23,540.92 points. The China Enterprises Index of the leading offshore Chinese listings in Hong Kong also ended flat.

Sands China was the top percentage loser on the Hang Seng, off 2.0 percent in its worst day in a month. Galaxy Entertainment Group, which jumped 11 percent last week, sank 1.2 percent.

China Resources Land and China Overseas Land & Investment advanced 1.6 and 1.7 percent, respectively, on the loosening of housing policies in some cities.

Hong Kong Exchanges and Clearing climbed 3.1 percent to HK$154.10, its highest since August 2011, after Jefferies initiated coverage of it with a “buy” rating and price target of HK$179.

China Railway rose 3.6 percent and China CNR 7.4 percent as markets expect increased second-half investment in the sector. (Reporting by Grace Li; Editing by Richard Borsuk)

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