Hong Kong shares hit a fresh two-month low

Hong Kong shares finished at their lowest in two months on Tuesday. Unimpressed by stronger Chinese mainland markets and weighed down by a few index heavyweights. The Hang Seng Index slipped 0.5 per cent to 23,837.07 points, the lowest close since July 22. The China Enterprises Index of the leading offshore Chinese listings in Hong Kong was off 0.3 per cent to its lowest since July 21. Tencent Holdings slid 1.8 per cent to a nearly three-month closing low, hurt by the New York listing of rival Alibaba Group. Sands China dived 3.0 per cent and Galaxy Entertainment Group sank 2.5 per cent, leading losses among casino operators after a brief rebound last week. Top percentage loser on the H-share index was China Longyuan Power Group Corp, which slumped 6.1 per cent to its lowest since July 2013 after Goldman Sachs downgraded the stock to ‘sell’ from ‘neutral’, according to Reuters.