Oct 26 (Reuters) - Hong Kong shares finished down on
Tuesday, dragged by tech and property firms. A planned pilot
real-estate tax scheme continued to dent risk appetite.
The Hang Seng index fell 0.4%, to 26,038.27, while
the China Enterprises Index lost 0.7%, to 9,259.43
** The Hang Seng Tech Index lost 1.3%, index
heavyweights Alibaba Group and Meituan
dropped 2.6% and 1.3%, respectively.
** Alibaba Health Information Technology slumped
more than 10%, the biggest decliner on the Heng Seng Index.
** Alibaba Health said it expected to record a net loss of
not more than RMB320 mln ($2.04 bln) for six months ended in
September, due to increase in deployment of group's resources.
** The Hang Seng Mainland Properties Index plunged
4.3%, fuelled by concerns over a planned pilot real estate tax
** Mainland property firms Country Garden, China
Evergrande Group, Sunac China lost between
4% and 7.4%.
** The property tax, likely to be tested initially in first-
and second-tier cities, "will hurt home-buyer sentiment and
discourage investment demand, and thus, deepen the physical
property market downturn," brokerage CLSA wrote in a note.
** "We expect more property policy fine-tuning to offset the
negative impact of the property market downturn and weak
economic outlook," CLSA added.
** Modern Land has become the latest Chinese
property developer to miss a bond payment, adding to worries
about wider effects of the debt crisis at behemoth China
** The energy sub-index and the healthcare
sub-index lost about 1% each.
** Hong Kong-listed Chinese electric vehicle makers jumped.
Investor sentiment was boosted after Tesla surpassed $1
trillion in market value on Monday.
** China's Xpeng Inc led the gains, up 8.7%, after
it said it would accelerate development to mass produce vehicles
fitted with the latest digital technologies.
(Reporting by the Shanghai Newsroom
Editing by Raissa Kasolowsky