Hong Kong Hang Seng falls 1%

Hong Kong stock market closed lower on Tuesday, 29 May 2018, as investors took shelter against risk assets amid the political crisis in Italy which is heading for fresh elections, with property developers led declines on concern that tightened liquidity will hurt the highly indebted industry. The Hang Seng Index fell 1%, or 307.68 points, to 30,484.58 at the close, the lowest level since May 8. The Hang Seng China Enterprises Index, or the H-share gauge, slid 1.3% to 11,959. Turnover increased to HK$87.6 billion from HK$84.4 billion on Monday.

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