Hong Kong shares down 0.2 pct

Hong Kong shares fell for a sixth successive session on Thursday,but closed well above the day’s lows as a rally in property stocks after another strong land auction in the territory,helped offset the weakness in banking counters.

The benchmark Hang Seng index fell 0.2 per cent to 22,609.8. In one bearish sign for the near-term outlook on the market,turnover rose to its highest level this week with selling in banking shares accelerating as losses deepened.

On the mainland,the Shanghai Composite fell to a 4-1/2 month low as worries over further monetary tightening prompted investors to cut positions ahead of next week’s inflation data.