Hang Seng index erases losses on property shares

Source: Dukascopy Bank
Hong Kong's Hang Seng index started lower on Tuesday, pushed down by Moody's downgrades across Europe. However, index erased losses during session and finished 0.15% or 30.43 points up at 20,917.83, supported by the rally of property shares. Property market retreated after a sharp sell off yesterday caused by Chinese city of Wuhu's cancellation of property purchasing easing. Henderson Land Development Co. rocketed 6%, New World Development Co. jumped 6.4% and China Resources Land Ltd. added 4.2%.
 

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