Property Stocks Propel Hong Kong Market Amid Regulatory Scrutiny

Hong Kong stocks saw a slight rise driven by property stocks, which advanced 2.3% following optimistic Citi analyst projections. China's shares were mixed due to regulatory scrutiny. Property giant China Vanke surged 6.5% on improved sales, while regulatory concerns hurt education firms. The Shanghai Composite index dropped slightly by 0.02%.

Hong Kong stocks rose marginally on Tuesday, driven by a jump in property stocks, while China shares were mixed amid tightened regulatory scrutiny over listed company disclosures.

Property stocks listed in A-shares and Hong Kong advanced 2.3% respectively each after Citi analysts said they expect the sector to "re-rate". Recent policy measures reflect a "clearer top-level determination to stabilize the property industry with all-round policy turnaround and to accelerate the sector soft-landing," the analysts, led by Griffin Chan, said in a note.

Property giant China Vanke's Hong Kong shares surged 6.5% as its May home sales showed signs of improvement. Meanwhile in mainland A-shares, education firms led declines, while Shenzhen Liantronics and Xingyuan Environment Technology slumped after receiving inquiry by stock exchanges on annual result details as the regulatory move raises concerns over delisting risks.

** At the midday break, the Shanghai Composite index was down 0.02% at 3,077.89 points, while the CSI 300 index was up 0.39%. ** The financial sector sub-index, consumer staples, real estate index and healthcare sub-index were up between 0.32% and 2.33%.

** Chinese H-shares listed in Hong Kong rose 0.22% to 6,546.58, while the Hang Seng Index was up 0.21% at 18,441.59. ** The smaller Shenzhen index was down 0.12%, the start-up board ChiNext Composite index was higher by 0.87% and Shanghai's tech-focused STAR50 index slipped 0.06%​.

** Around the region, MSCI's Asia ex-Japan stock index was weaker by 0.44% while Japan's Nikkei index was down 0.21%. ** The yuan was quoted at 7.2456 per U.S. dollar, 0.06% weaker than the previous close of 7.2413.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)