Hang Seng Lower as Casinos Drop

Hong Kong stocks fell, with the city’s benchmark index retreating after last week touching the highest level since December, as casinos dropped.

Sands China Ltd. and Galaxy Entertainment Group Ltd. each declined at least 1.6 percent, among the biggest losses on the Hang Seng Index. (HSI) Li Ning Co. tumbled 6.6 percent after Bank of America Corp.’s Merrill Lynch said the sportswear maker may report a first-half loss. China Resources Land Ltd. and China Overseas Land & Investment Ltd. climbed at least 2 percent, pacing gains among developers.

The Hang Seng Index lost 0.2 percent to 23,508.20 as of 1:06 p.m. in the city, after gaining as much as 0.2 percent. Trading volume was 30 percent lower than the 30-day intraday average. The gauge climbed 1.4 percent last week. The Hang Seng China Enterprises Index of mainland shares traded in the city, also known as the H-share index, fell less than 0.1 percent to 10,485.34.

Bloomberg

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