Shares in HK markets are falling fast as pressure inflated | Hong Kong stock Market News 7 July 2014

Hong Kong shares dropped today with Macau casinos under selling pressure after last week's strong rebound, while China markets lowered as investors await major economic data later this week.

At midday, the Hang Seng Index slipped 0.2 percent at 23,494.96 points. The China Enterprises Index of the top Chinese listings in Hong Kong fell 0.1 percent.

The CSI300 of the leading Shanghai and Shenzhen A-share listings and the Shanghai Composite Index were both off 0.3 percent. The Shanghai benchmark stood at 2,052.42 points after choppy morning trade.

Shanghai-based research analyst said.

But Zhang warned about risks from speculating on small caps"The active stocks are mainly those new listings and small caps".

Property developers expanded gains, with the CSI China Mainland Real Estate index up 1.2 percent to its highest since April 25.

China Vanke surged 3.1 percent in Shenzhen and 2.7 percent in Hong Kong, following gainings of 3.9 and 8.2 percent in the two markets on Friday after the largest residential property developer said first-half contract sales were up 20.6 percent from a year ago.

"There's the rising tide but also the falling tide. In the long run, if these companies cannot sustain profit growth, you may face relatively big risks if you drive up these stocks," Analysts said.

Poly Real Estate Group advanced 2.2 percent, after the National Business Daily reported on Monday one luxury projects has been approved in Beijing at the price of about 100,000 yuan ($16,100) per square meter, a sign that the capital city has loosened its restrictions on housing prices.

Chongqing Iron & Steel, which climbed 6.3 percent on Friday after a partnership with Korean steelmaker Posco was announced, dropped 4.7 percent after the Chinese company said that tie-up would have no material impact on its results, as the benefit would go to its parent.

A leading loser on the Hang Seng was Sands China, which fell 2.7 percent. Galaxy Entertainment Group, which climbed 11 percent last week, sank 1.8.

Great Wall Motor slipped 4.0 percent in Hong Kong and 0.9 percent in Shanghai after June sales declined.

Beijing is due to post June inflation data on Wednesday, trading data on Thursday, with loan growth and money supply data to be declared between July 10 and 15.

Second quarter GDP growth is scheduled on July 16, as are monthly urban investment, industrial output and retail sales figures.