Hong Kong: Shares end lower

[HONG KONG] Hong Kong stocks fell on Monday, led by banking and property shares, amid concerns of slowing economic growth in China, where government curbs are hurting real estate sales.

The Hang Seng index fell 0.6 percent to 28,305.88, while the China Enterprises Index also lost 0.6 per cent, to 11,491.07 points.

Fresh data showed growth in new home prices in China slowed to a crawl in September, rising just 0.2 per cent from the previous month.

China's housing minister said on Sunday that the country's property sales would slow in the fourth quarter but prices would remain stable, reiterating the government's position that"houses are for living in, not for speculation." An index tracking property shares fell 0.6 per cent, while the financial sector dropped 0.8 per cent.

REUTERS