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Hong Kong Has Worst Home Sales in 17 Months on Equities Turmoil

Hong Kong monthly home sales were the weakest in 17 months in August, as a deepening stock market rout that began in China hurt sentiment among homebuyers.

The city sold 3,896 residential units last month, about one-third fewer than a year earlier, according to government data Wednesday. The value of sales dropped by 26 percent to HK$31.1 billion ($4 billion) from a year earlier.