BlackRock cuts HK investment, sees home prices fall

[TOKYO] BlackRock Inc is reducing its investment in Hong Kong, betting the city's equity and property markets will trail other Asian countries as growth slows in the world's two biggest economies.

Hong Kong stocks may underperform as the US pares stimulus and China tightens credit, said Andrew Swan, head of Asian equities at BlackRock, which managed US$3.86 trillion as at June 30. Home values in the city may fall more t…