Hong Kong-listed commodity firms also saw some weakness, with PetroChina Co. /zigman2/quotes/204979431/delayed HK:857 +0.74% /zigman2/quotes/205108732/composite PTR +2.18% down 0.7%. The company’s Shanghai listed shares dropped 0.4%.
Casino stocks fall
Macau casino operator Sands China Ltd. /zigman2/quotes/207609245/delayed HK:1928 +1.21% fell 5.8%, with the drop coinciding with unconfirmed reports China may be considering tightening visa and credit policies which could result in dampened tourist visits from the Chinese mainland.
Elsewhere in the sector, shares of Wynn Macau Ltd. /zigman2/quotes/200973447/delayed HK:1128 +3.04% /zigman2/quotes/210239025/composite WYNMF +1.05% dropped 2.8%, while MGM China Holdings Ltd. /zigman2/quotes/203735819/delayed HK:2282 +1.16% /zigman2/quotes/207834661/composite MCHVF +9.60% dropped 4.8% and SJM Holdings Ltd. /zigman2/quotes/203488207/delayed HK:880 -2.56% /zigman2/quotes/205538449/composite SJMHF +5.69% lost 2%.
Sands China is the lone Hang Seng Index component of the group and Credit Suisse on Tuesday lowered its recommendation on the stock to neutral from outperform, and cut also its share-price target, citing a soft earnings outlook.
SouthGobi Resources Ltd.’s /zigman2/quotes/204357902/delayed HK:1878 -1.92% shares dropped 8.4% after saying its Mongolian operations continue to negatively affected by regulatory issues, including uncertainty over operating licenses suspended by the Mongolian government in April on national security grounds.
However those losses were offset by strength in the property sector, with China Overseas Land & Investment Ltd. /zigman2/quotes/205731176/delayed HK:688 0.00% /zigman2/quotes/210412581/composite CAOVF -5.11% rising 2.4% and Agile Property Holdings Ltd. /zigman2/quotes/210448079/delayed HK:3383 +0.60% /zigman2/quotes/200754284/composite AGPYY +16.31% rising 1.2%.
Other gainers included News Corp. /zigman2/quotes/209121543/delayed AU:NWS +0.28% /zigman2/quotes/201755982/composite NWSA +1.85% , which climbed 2.4% in Sydney after the Wall Street Journal reported, citing people familiar with the situation, that the media giant is considering splitting itself in two. Such a move would see the firm hive off its film and television operations from its newspapers, book-publishing and education assets, the report stated. Read more on Australian media sector
News Corp. is the parent of The Wall Street Journal and MarketWatch, the publisher of this report.