Hong Kong stocks rose slightly on Wednesday, but persistent investor worries over the extent of future interest rate rises pulled down property shares.
Hong Kong's blue chip Hang Seng Index was up 0.16 percent, or 23.13 points, at 14,650.54. Turnover was HK$17.5 billion (US $2.2 billion), compared to HK$16.1 billion on Tuesday.
The re-launch of the retail portion of the massive Link REIT initial public offering on Monday also helped to tie up funds in the market, traders said.
"Investors are mainly worried about interest rates after the inflation data last night," said Kenny Tang, associate director at Tung Tai Securities.
The Hang Seng Properties sub index fell 0.43 percent at 17,190.4.
Heavyweights Cheung Kong (Holdings) Ltd fell 0.89 percent to HK$77.65, and Sun Hung Kai Properties Ltd fell 0.34 percent to HK$72.95. "Even if you look at the core (inflation) figures, people can still see that headline prices rose," Tang added.
The US Labour Department said prices received by farms, factories and refineries rose 0.7 percent last month, defying Wall Street forecasts for a flat reading after September's roaring 1.9 percent gain.
Shares in Guangzhou Pharmaceutical Co Ltd fell 0.78 percent to HK$3.175 after it said on Wednesday that 8.03 percent of its total issued share capital held by its parent in the form of state-owned shares would be sold by public auction.
Shares in Asia Standard Hotel fell 5.85 percent to HK$0.193 after it said it had agreed to issue 1.01 billion new shares to its controlling shareholder Asia Standard International Group Ltd, raising HK$197 million ($25.3 million) to repay part of its long-term mortgage loans.
Shares in Kerry Properties Ltd fell 1.04 percent to HK$19 after it said on Wednesday it had loaned a total of HK$2.16 billion ($276.9 million) to indirect unit Cheerjoy Development Ltd for development of a high-end residential property in the territory.
Kerry's stock has fallen 1 percent in the last month to close at HK$19.20 on Tuesday.
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