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Tight policy expectations hurt HK, Shanghai late Feb.

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disappopint February 21, 2013 (Chinavestor) Stocks fell hard in Asia on Thursday amid concerns of property curbs and the return of a tight monetary policy. The Shanghai Composite index (SHA:000001) tumbled 71.2 points or 3.1%, the most in 2013, after government data showed home prices accelerating the fastest in two years. The sell off was universal among the 50 largest components of the broad Shanghai Composite Index (SHA:000001).

Investors did little better in Hong Kong where the Hang Seng Index (INDEXHANGSENG:.HSI) fell 400.7 points or 1.7%, half of that of the Shanghai Composite. Consumer stocks, such as China Mobile (HKG:0941), came to the rescue of the index but yesterday's winners, China South Air (HKG:1055) and Air China (HKG:0753) fell hard, among others.

Take a look at the following chart to asses the most dramatic fall of key components of Asian indexes and the Dow.

pre_20130221



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