Hong Kong stocks end down 1.13%

Hong Kong stocks finished 1.13 percent lower on Wednesday, hit by reports that property tax trials will be launched in China this year in a bid to cap soaring prices.

The benchmark Hang Seng Index ended down 238.99 points at 20,986.89 on turnover of HK$61.88 billion (US$7.98 billion).

Chinese stocks closed down 0.73 percent. The benchmark Shanghai Composite Index fell 15.84 points to 2,143.45 on turnover of 67.1 billion yuan ($10.9 billion).