Hong Kong Stocks Decline, Headed for Lowest Close in Two Months

Hong Kong stocks fell, with the city’s benchmark index heading for a two-month low, as financial and property shares led declines.

The Hang Seng Index lost 0.6 percent to 22,685.51 as of 9:32 a.m. in Hong Kong. The gauge dropped 2.2 percent on Jan. 3, its steepest drop since July 3, after an official gauge of China’s services industries fell to a four-month low. A private report on the nation’s non-manufacturing industries is due today. The Hang Seng China Enterprises Index (HSCEI) of mainland shares traded in the city, also known as the H-share index, slipped 0.9 percent percent to 10.342.55.

The Hang Seng Index (HSI) traded at 10.1 times estimated earnings on Jan. 3, compared with 15.5 for the Standard & Poor’s 500 Index.

Futures on the S&P 500 added less than 0.1 percent today. The gauge fell less than 1 point on Jan. 3 as investors weighed comments from Federal Reserve officials on stimulus and the economy’s strength. The benchmark measure surged 30 percent in 2013 for its steepest annual rally in 16 years.

To contact the reporter on this story: Jonathan Burgos in Singapore at jburgos4@bloomberg.net

To contact the editor responsible for this story: Sarah McDonald at smcdonald23@bloomberg.net

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