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Hong Kong shares post biggest decline in nearly two weeks

Property developers fall; Chinese stocks gain as mainland markets reopen

HONG KONG (Nikkei Markets) -- Hong Kong shares retreated on Thursday, taking cues from weak global equities on worries about the outlook for U.S. interest rates. Mainland Chinese stocks jumped in a catch-up rally as markets reopened after the week-long Chinese New Year holiday.

The benchmark Hang Seng Index fell 1.5% to 30,965.68, its steepest single-day percentage loss since Feb. 9. Heavyweights HSBC Holdings and Tencent Holdings, which have the highest weighting on the 51-member gauge, gave up 2.5% and 0.5%, respectively. China Resources Land shed 4.1% and China Overseas Land & Investment gave up 3.1%, the day's biggest decliners on the index in percentage terms.

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