Economics
Hong Kong Stocks Fall From 16-Month High, Led by Property Shares
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Hong Kong stocks fell, retreating from a 16-month high, after a report signaled China’s new leaders may accept slower economic growth in favor of a more sustainable model.
Sino Land Co., a Hong Kong builder controlled by billionaire Robert Ng, fell 1 percent after a report city officials may take more steps to stabilize the property market. Foxconn International Holdings Ltd., a handset supplier controlled by Hon Hai Precision Industry Co. which assembles Apple Inc.’s iPhone, fell 2.9 percent after Apple was downgraded at Citigroup Inc. China Eastern Airlines Corp. jumped 6.3 percent, leading carriers higher after Jefferies Group Inc. said Chinese airlines are set for cyclical recovery.