The Hang Seng Index HK:HSI -0.17% lost 0.8%, as Shimao Property Holdings Ltd HK:813 -1.88% fell 2.4%, China Resources Land Ltd HK:1109 +0.21% CRBJF -3.25% lost 2%, and Poly Property Group Co. Ltd HK:119 -0.49% dropped 1.2%. Chinese banks were weak, as Industrial & Commercial Bank of China HK:1398 0.00% IDCBF -1.52% declined 1.2%, and Bank of China Ltd HK:3988 0.00% BACHY -2.78% moved lower by 0.9%. China Merchants Bank Co. HK:3968 -0.40% CIHHF -6.19% gave up 0.7%, failing to get a lift from news that the U.S. approved the expansion of its subsidiary Wing Lung Bank in California. Market heavyweight China Mobile Ltd. HK:941 +0.13% CHL -0.15% lost 0.8%, as Cleveland Research reportedly suggested iPhone 5s preorders at the China wireless provider have been trending below expectations. China Mobile was scheduled to distribute iPhones in China on Friday after reaching a long-awaited deal with Apple Inc. AAPL +0.11% in December. On the Chinese mainland, the Shanghai Composite Index CN:SHCOMP +0.57% edged lower by 0.3%. Click Here To Register For Free Trial Services
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