HONG KONG, Nov 13 (Reuters) - Hong Kong shares closed at a
four-week low on Tuesday, dragged lower by Chinese shares on
fears that the ongoing Communist Party congress would spawn
little change in economic policies.
The Hang Seng Index ended down 1.1 percent at
21,188.7, its lowest close since Oct. 15. The China Enterprises
Index of the top Chinese listings in Hong Kong finished
down 2 percent at 10,230.1.
On the mainland, the CSI300 Index of the top
Shanghai and Shenzhen listings shed 1.8 percent while the
Shanghai Composite Index lost 1.5 percent. Both closed
at levels last seen in late September.
* Growth-sensitive sectors related to the Chinese property
sector suffered the brunt of Tuesday's losses after the
state-run China Daily newspaper quoted China's housing minister
as saying that Beijing is "actively studying" expanding a
property tax beyond Chongqing and Shanghai. He also said he does
not expect any loosening on restrictions on the sector, sparking
fears that little change to China's economic policy would emerge
from the 18th Congress meeting, scheduled to end on Wednesday.
* Chinese railway and infrastructure-related counters, which
led a rally in September and October, trimmed 2012 gains. China
Railway Group dived 6.2 percent, while China National
Building Material lost 3.4 percent.
* The Hang Seng Index A/H premium index is now at
99.9. It has traded below 100 for more than three weeks, but is
now at its highest since Oct. 17, suggesting the premium that
onshore markets typically trade over offshore peers could return
if H-shares continue to underperform A-shares.