Property stocks spearheaded a downturn on the Hang Seng Index as investor sentiment was dampened by concerns surrounding potential interest rate increases and government measures aimed at cooling the property market.

Major property developers experienced notable declines, reflecting the market’s apprehension about future growth prospects in the sector.

Analysts suggest that the uncertainty surrounding the global economic outlook also contributed to the negative sentiment, with investors adopting a more cautious approach.

The Hang Seng Index closed lower, weighed down by the poor performance of property-related companies.

Market participants are closely monitoring upcoming economic data and policy announcements for further indications of future market direction.