http://www.tradingroom.com.au/apps/view_breaking_news_article.ac?page=/data/news_research/published/2013/3/63/catf_130304_211000_7917.html <br />bp holdings review <br />Hong Kong shares have fallen 1.50 per cent in line with a big sell-off in mainland markets after Beijing introduced fresh measures to curb rising property prices in China. <br />The benchmark Hang Seng Index shed 342.41 points on Monday to 22,537.81 on turnover of HK$82.84 billion ($A10.53 billion). <br />The losses wiped out most of the gains from the previous session. <br />China announced on Friday that homeowners who sell their properties will have to pay a capital gains tax of 20 per cent on their profits. <br />Homeowners were previously taxed one to two per cent of the sale price. <br />The government also ordered the central bank to raise downpayments and mortgage lending rates for buyers of second homes in some cities, and told local governments to limit non-residents from buying more than one home. <br />The benchmark Shanghai Composite Index ended down 3.65 per cent, or 86.11 points, at 2,273.40 on turnover of 143.0 billion yuan ($A22.66 billion), its weakest finish since January 11, when the index ended at 2,243.00. <br />"Before Friday, there was still the question as to whether controlling the property market will remain a policy priority for the new government. This latest announcement should remove any doubt," UOB KayHian said in a note. <br />"Either the property market will have to cool down or more measures will be introduced until the objective is achieved," UOB said, according to Dow Jones Newswires. <br />In Hong Kong, China Overseas Land tumbled 7.1 per cent to HK$21.45 and China Resources Land slumped 8.9 per cent to HK$20.60, while Sunac China closed down 9.9 per cent at HK$5.28 and Greentown China fell 9.5 per cent to HK$13.40. <br />The news also hit construction firms. Anhui Conch Cement dropped 4.8 per cent to HK$27.80 and China National Building Material fell 3.1 per cent to HK$11.76. <br />However, Castor Pang, research head at Core Pacific-Yamaichi, said "this is just a correction, a pause in the market's uptrend". <br />bp holdings review <br />FOLLOW US AT: <br />http://tinwallacebpholdings.tumblr.com/ <br />READ OTHER/RELATED ARTICLE: <br />http://tinwallacebpholdings.tumblr.com/post/34830127595/bp-holdings-nieuws-bp-raad-keurt-rosneft
