11. Asian stock markets closed mixed Wednesday, with share prices closing higher in Hong Kong, although news of an unsuccessful government land auction eroded gains from early trading. 12. Brokers said share prices rose in reaction to two government land auctions, which fetched better than expected prices. 13. Brokers said share prices fell in late trading after a government land auction fetched prices that were below market expectations. 14. Brokers said share prices were boosted by a strong property sector ahead of a government land auction later this month. 15. But investors seemed somewhat heartened by robust bidding at a government land auction, where property market sentiment is often gauged. 16. DEVELOPERS bidding for two residential sites in an upcoming land auction will be less aggressive following uncertainties fuelled by influential developers cutting property prices, say analysts. 17. Gains by property stocks dominated the market after better-than-expected results of a government land auction on Tuesday, Chu said. 18. Gains by property stocks dominated the market, led by the better-than-expected results of a government land auction on Tuesday, Chu said. 19. Green, the analyst, and other critics accuse the government of bungling housing planning, or even of creating a shortage to inflate revenues from land auctions. 20. He added the government land auction of two largish property sites next Tuesday will also provide indications of the property market. |