MW: Hong Kong shares extend fall; property stocks drop
By V. Phani Kumar
HONG KONG (MarketWatch) -- Hong Kong shares extended losses by mid-morning on Friday following sharp overnight losses on Wall Street and in commodity prices, with a decline in Shanghai adding to the selling pressure. The Hang Seng Index fell 1.1% to 21,119.78, taking losses into a fourth straight session, while the Hang Seng China Enterprises Index lost 1.3% to 12,335.01. Local property developers as well as banks led the fall amid concerns about liquidity outflows, with Sino Land Co. Ltd. (HK:83 14.44, -0.40, -2.70%) sliding 2.7% and Cnooc Ltd. (HK:883 11.92, -0.14, -1.16%) (CEO 154.84, -1.44, -0.92%) dropping 1%, while Bank of China Ltd. (HK:3988 4.02, -0.02, -0.50%) (BACH.Y 12.81, -0.35, -2.66%) shed 1.2%. China's Shanghai Composite gave up 1.4% to 3,133.79.
