| Investors dump shares of developers in favour of financials after three major banks raise mortgage rates by 25 basis points. Shares of Hong Kong developers fell yesterday after three major banks raised mortgage rates by 25 basis points amid mounting risk in the property market.
In response to the first rate rise in 18 months, Sun Hung Kai Properties, the world's largest developer by market value, fell 3.3 per cent to HK$107.90, while Cheung Kong declined 0.94 per cent to HK$115.70. Henderson Land Development and Hang Lung Properties dropped 3.3 and 2 per cent, respectively.......................................Full Article: Source
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