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China property leads Hong Kong stocks close lower, H-shares down

Reuters

* Hang Seng index ends down 1.6 pct China Enterprises index HSCE falls 1.8 pct HSI financial sub-index 1.5 pct lower; property down 2.2 pct

HONG KONG, Sept 24 (Reuters) - Hong Kong's main Hang Seng index ended weaker on Monday led by a decline in Chinese property stocks, snapping a four-session winning streak. Chinese stock markets were shut for a holiday, while China's H-shares index also closed lower.

** At close of trade, the Hang Seng index was down 454.19 points or 1.62 percent at 27,499.39, the biggest daily percentage decline since Sept. 5. The Hang Seng China Enterprises index fell 1.8 percent to 10,827.52. ** Hong Kong financial markets will close for Mid-Autumn Festival holiday on Tuesday. Trade resumes normal on Wednesday.

** Participants await the next move in an escalating trade fight as China added $60 billion of U.S. products to its import tariff list, retaliating against U.S. duties on $200 billion of Chinese goods that come into effect on Monday. ** The sub-index of the Hang Seng tracking energy shares dipped 0.7 percent, while the IT sector dipped 1.8 percent, the financial sector was 1.5 percent lower and property sector dipped 2.2 percent. ** The top gainer on Hang Seng was CNOOC Ltd, up 0.6 percent, while the biggest loser was Country Garden Holdings Co Ltd, which was down 5.6 percent. ** Hong Kong-listed Chinese property developers slid after six provinces have been told to reconsider the property pre-sale system. ** The top gainers among H-shares were CNOOC Ltd, gaining 0.6 percent, followed by Guangdong Investment Ltd , which edged up 0.2 percent. ** The three biggest H-shares percentage decliners were Great Wall Motor Co Ltd, which was down 5.1 percent, China Resources Land, which slid 4.8 pct, and Air China Ltd , which fell 4.6 percent. ** About 1.56 billion Hang Seng index shares were traded, roughly 84.5 percent of the market's 30-day moving average of 1.84 billion shares a day. The volume traded in the previous trading session was 2.86 billion. (Reporting by Donny Kwok; Editing by Simon Cameron-Moore)