Market Close: Insurers drag down Hang Seng; Ping An slumps

Hang Seng fell for a second day on Tuesday, led by Chinese insurers, as investors flocked to take profit from sectors on speculation those shares have been overbought.

Yet sentiment remained robust as trading volume amounted to HK$82.8 billion, with short selling ratio falling to 6.6 per cent, the lowest since December 18. The Hong Kong benchmark on Tuesday lost 218.56 points, or 0.94 per cent, to finish at 23,111.19.

via Business feed http://www.scmp.com/business/money/stock-talk/article/1123005/market-close-insurers-drag-down-hang-seng-ping-slumps