Hong Kong Stocks Seesaw After Rally

MarketWatch Pulse

Hong Kong stocks swung between small gains and losses Tuesday morning after a rally the previous day, with the Hang Seng Index little changed about 90 minutes into trading. Banking and property sectors pulled back from their recent gains, as China Minsheng Banking Corp. declined 0.9%, Bank of China Ltd. fell 0.8%, and China Citic Bank Corp. dropped 0.6%. Property shares also included some underperformers, with China Vanke Co. losing 2.6%, Sunac China Holdings Ltd. down 1.8%, China Resources Land Ltd. off 1.3%, Sino-Ocean Land Holdings Ltd. retreating 1.1%, Shimao Property Holdings Ltd. skidding 1%, and Poly Property Group Co. slipping 0.3%. Other market movers included telecoms company China Mobile Ltd. and bourse operator Hong Kong Exchange & Clearing Ltd. , each giving up 0.5%, and life insurer AIA Group moving down 0.3%. Over on the Chinese mainland, the Shanghai Composite Index rose 0.6%.

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