China Resources Land leads slide among developers as new home prices fall
** Shares of China Resources Land 1109.HK lead slide in Hong Kong-listed Chinese property developers, falling 5% to HK$18.62, lowest since January 2017
** Stock on track to snap a three-sessions rally; second biggest loser in Hang Seng Mainland Properties Index .HSMPI and Hang Seng Index .HSI, which are down 3.8% and 0.7%, respectively
** China's new home prices fell 5.3% from a year earlier in August at the fastest pace in more than nine years, official data showed on Saturday, as supportive measures failed to spur a meaningful recovery in the property sector
** Stock of rivals Yuexiu Property 01213.HK down 3.4% and China Overseas Land 0688.HK decline 3.1%
** Shares of smaller rival Sino-Ocean Group 3377.HK drop 12% to HK$0.146, their all-time low since debut in September 2007, after it posted Jan-Aug contracted sales of 22.18 bln yuan ($3.13 bln) as compared to 40.12 bln yuan for Jan-Aug last year
($1 = 7.0930 Chinese yuan renminbi)
Reporting by Donny Kwok
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