Hong Kong Property stocks slide

Hong Kong Property stocks slide
08/11/2016 , by , in INTERNATIONAL

Hong Kong property stocks fell after the government raised stamp duties on property transactions for the first time in three years to rein in soaring real estate prices.

 

The property sub-index fell 3 percent at the open. Shares of Sun Hung Kai Properties Ltd were set to open down 5.6 percent, Henderson Land dropped 3 percent, New World Development slid 4.5 percent and Midland Holdings was down 7.2 percent.

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