Hong Kong and China mainland stocks falling - property sector in particular

Regional stock markets here have followed the US lead, falling.

• Japan's Nikkei is bucking the trend, up slightly, around +0.3%
• Hong Kong's Hang Seng is down around 1%
• China's Shanghai Composite is down around 0.25%, Shenzen about 0.5% lower

Chinese property developers are taking larger hits, Logan Group and Country Garden are down about 5%. There was some prospect for a cut to the 5 year LPR, which would have been a positive for property at the margin, but in the end the consensus were on the correct side and LPRs remain unchanged for the month:

• PBOC LPR setting: 1-year and 5-year both unchanged