STOCKS | Hong Kong Property Shares Fall As Fed Chair Warns On Inflation

Hong Kong property shares fell on Friday after Federal Reserve Chair Warsh said at the Jackson Hole global central bankers' meeting that inflation remains too high, according to ETNet. Sun Hung Kai Properties fell 4.2% to HK$116.8, Henderson Land dropped 5.8% to HK$27.3, CK Asset lost 1.4% to HK$45.22, New World Development declined 2% to HK$6.855, Hang Lung Properties slipped 2.7% to HK$7.05, Wharf Real Estate Investment fell 2% to HK$30.88 and Link REIT eased 2.1% to HK$38.42. The Hang Seng Index was down 0.8% at 25,380, while the Hang Seng China Enterprises Index fell 0.4% to 8,458 and the Hang Seng Tech Index lost 0.9% to 4,561. Market expectations for a September Fed rate hike rose to above 50%, up from about one-third before Warsh's remarks, and traders were also betting on two more hikes by next March.