Hong Kong stocks fall for third day

China Daily (Hong Kong) - - NATION DIGEST -

Hong Kong stocks fell, with the city’s bench­mark in­dex slid­ing for a third day, amid con­cern the US bud­get deal will give the Fed­eral Re­serve con­fi­dence to re­duce bond pur­chases. Li & Fung Ltd, a sup­plier of toys and clothes to re­tail­ers in­clud­ing Wal­Mart Stores Inc, sank 4.7 per­cent. Ten­cent Hold­ings Ltd lost 1.5 per­cent, with Asia’s largest In­ter­net com­pany fall­ing from a record high on Wed­nes­day. China Cinda As­set Man­age­ment Co, a State-owned bad-loan man­ager, soared 26 per­cent on its de­but. The Hang Seng In­dex de­creased 0.5 per­cent to 23,218.12 at the close, with about two shares fall­ing for each that rose. The Hang Seng China En­ter­prises In­dex of main­land shares, also known as the H-share in­dex, dropped 1 per­cent to 10,962.18.

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