Hong Kong, China shares plummet as property curbs hit developers

Hong Kong and China shares fell sharply on Monday, with the CSI300 set for its worst day in two years after Beijing hit property developers with more tightening measures to contain housing costs that were harsher than expected.

The State Council had demanded late on Friday an increase in required down payments and loan rates for buyers of second homes in cities where prices are rising too quickly. The announcement came ahead of the start of China’s annual parliamentary meetings.

via Business feed http://www.scmp.com/business/money/stock-talk/article/1176114/hong-kong-china-shares-plummet-property-curbs-hit