HONG KONG: Hong Kong stocks posted their biggest one-day loss in six weeks on Monday, with a slump in property shares hitting already fragile sentiment after the Federal Reserve’s hawkish stance and Standard & Poor’s downgrade of China’s credit rating last week.

The Hang Seng index dropped 1.4 percent, to 27,500.34 points, while the Hong Kong China Enterprises Index lost 1.8 percent, to 10,912.46.

An index tracking mainland developers tumbled more than 8 percent, after some cities in China imposed new housing controls to hose down an overheated market.—Reuters