HSI Slumps 165 pts at Close as CN Developers Fall

$Hang Seng Index(800000.HK)$ slid 165 points or 0.9% to close at 18,313. $Hang Seng China Enterprises Index(800100.HK)$ fell 69 points or 1.1% to close at 6,456. $Hang Seng TECH Index(800700.HK)$ lost 50 points or 1.3% to close at 3,872. Total market turnover for the day amounted to $128.655 billion.

The sales volume of China's top 100 real estate companies fell 13% MoM in April. Chinese developers took the lead to decline. $KWG GROUP(01813.HK)$ and $AGILE GROUP(03383.HK)$ plummeted 14.1% and 13.3%, while $SINO-OCEAN GP(03377.HK)$ , $CIFI HOLD GP(00884.HK)$ and $SUNAC(01918.HK)$ descended 11.6%, 9.9% and 8.4%. $LONGFOR GROUP(00960.HK)$ , $CHINA VANKE(02202.HK)$ , $GREENTOWN CHINA(03900.HK)$ and $R&F PROPERTIES(02777.HK)$ slipped 6.1- 7.6%, while property managers $CG SERVICES(06098.HK)$ and $CHINA OVS PPT(02669.HK)$ receded 5.7% and 6.3%.