Hong Kong shares followed broader Asia lower on Friday, with Chinese property developers leading the slide.

The Hang Seng Index was down 1.51 percent, at 17,740.05. The Hang Seng China Enterprises Index fell 1.79 percent to 6,074.65.

The sub-index of the Hang Seng tracking energy shares dipped 0.5 percent, the IT sector fell 2.07 percent, the financial sector slipped 0.54 percent and the property sector dropped 2.12 percent.

The top gainer on the Hang Seng was Sands China, which was up 3.06 percent, while the biggest loser was Country Garden Holdings, which fell 11.11 percent.

Chinese developer CIFI Holdings hit a record low on Moody’s downgrade and rivals followed, sending the Hang Seng Mainland Properties Index down 4.4 percent.

The top gainers among H-shares were China Resources Beer, up 1.29 percent, Nongfu Spring, up 1.04 percent, and Semiconductor Manufacturing International Corp, up 0.94 percent.

The three biggest H-shares percentage decliners were Country Garden Holdings, Longfor Group, which fell 8.33 percent, and BYD Co Ltd, down by 5.17 percent.