Hong Kong share market finished session lower on Wednesday, 28 February 2024, as investors locked in profit after the benchmark gauge after hitting a 2024 high a day earlier and due to increased concerns surrounding the beleaguered property market
At closing bell, the benchmark Hang Seng Index retreated 253.95 points, or 1.51%, to 16,536.85. The Hang Seng China Enterprises Index tanked 118.44 points, or 2.04%, to 5,688.46.
Shares of Country Garden Holdings plummeted as embattled developer grappled with a liquidation petition in a Hong Kong court over its failure to repay a HK$1.6 billion ($200 million) loan.
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