CORRECTED-Hong Kong shares skip bullish global move; property, airlines off on weaker yuan

Last Updated: Tue, Sep 12, 2017 15:00 hrs

(Corrects 4th paragraph to say the MSCI All Country World Index hit an all-time high, not a 10-year peak)

Sept 12 (Reuters) - Hong Kong shares were steady on Tuesday, with the benchmark index staying close to more than two-year highs but not joining most Asian exchanges climbing after New York stocks surged overnight.

Strength in consumer and resource shares were offset by declines in property developers and airline operators - sectors that benefit from a strong yuan, as investors unwound their bets after China unveiled measures to discourage one-way bets on yuan appreciation.

The Hang Seng index inched up 0.1 percent, to 27,972.24, while the China Enterprises Index climbed 0.2 percent, to 11,242.06 points.

Risk appetites improved as the MSCI All Country World Index hit an all-time peak, after the U.S. S&P 500 Index surged over 1 percent to a record high on the back of eased North Korea tensions and Hurricane Irma's downgrade.

The consumer goods sector rose over 1 percent Tuesday, while an index tracking resources shares jumped nearly 3 percent on the back of higher commodity prices.

Hong Kong-traded shares of Aluminum Corp of China Ltd (Chalco) surged roughly 7 percent, after the metal producer halted trading in its China-listed A-shares pending a major announcement.

The trading suspension spurred expectations Chalco could become the latest target of state-owned enterprise (SOE) restructuring that potentially improves corporate fundamentals. (Reporting by Samuel Shen and John Ruwitch; Editing by Richard Borsuk)

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