13.09.201304:26:25UTC+00Hong Kong stocks dive down as properties retreat

Hong Kong stocks pulled back early Friday, with weakness among property issues helping to kick the Hang Seng Index down 64 points, or 0.3%, to 22,890.98. The Hang Seng China Enterprises Index tumbled 0.4% to 10,598.40. Shares of Sun Hung Kai Properties Ltd. plunged 1.2% as government measures to tamp down real-estate prices resulted in lower annual net profit and underlying profit for the firm. Among other developers, Shenzhen-listed China Vanke Co. diminished 1.2%, and Hong Kong-listed Cheung Kong Holdings Ltd. backslide 0.7%. Meanwhile, stock in Internet firm Tencent Holdings Ltd. down 0.9% in the wake of Twitter's plan to file for an initial public offering. The Shanghai Composite relinquished 0.2% to 2,248.80, but was on poised for a weekly surge of 5%. The Hang Seng Index was facing a weekly advance of 1.2%.