Hong Kong shares nudged off 21-month high, China tepid

Hong Kong shares slipped from a 21-month high on Thursday, as investors turned cautious following a batch of profit warnings, knocking the Hang Seng Index off its most overbought levels in almost a month.

The Chinese steel and shipping sectors dominated the more than 10 profit warnings posted by Hong Kong-listed companies overnight, while mainland property developers slid after local media reported the Beijing city government had submitted a property tax plan to the State Council for approval.

via Business feed http://www.scmp.com/business/money/stock-talk/article/1140205/hong-kong-shares-nudged-21-month-high-china-tepid