Business

Editor: Bruce Meng
9 Sep 2008 09:40:15 GMT

HONG KONG, Sept 9 - Hong Kong shares gave up 1.5
percent on Tuesday after gaining the most in nearly six months in
the previous session, as Chinese banks slid on a Goldman Sachs
downgrade and mainland property firms tumbled due to a weak sales
outlook.

The benchmark Hang Seng Index <.HSI> unofficially closed down
311.71 points at 20,482.56, after gaining 4.3 percent on Monday.

But the index closed off its lows, helped by a late afternoon
rally in utilities as investors sought safe havens.

The China Enterprises Index <.HSCE> of top locally listed
mainland Chinese firms fell 2.9 percent.