HONG KONG, April 19 (Reuters) - Hong Kong stocks traded lower on Tuesday with property and energy counters continuing to underperform as weak global markets gave investors further reason to take money off the table, following a warning on the United States' credit rating.
The benchmark Hang Seng Index recorded a third consecutive daily loss, closing down 1.3 percent at 23,520.62, outperforming the Shanghai Composite Index , which retreated 1.91 percent to 2,999.04, its largest percentage fall in two months.
The China Enterprises Index closed down 1.22 percent at 13,246.86.
HIGHLIGHTS:
* Turnover remained low, barely reaching HK$70 billion, the lowest in April so far.
* Tencent Holdings Ltd was the only constituent stock on the benchmark to record a gain on the day, closing up 0.2 percent. Losses in financials weighed the most.
* Energy and property counters continued to underperform for a third consecutive session, with China Overseas Land & Investment Ltd shedding 3.6 percent and China Resources Enterprise Ltd falling 4.2 percent.
* Analysts expect these cyclical sectors to continue to pressure the broader market for the rest of the week, with investors adjusting to the latest round of China policy tightening by reducing exposure to sectors seen to be likely impacted by growth-slowing policies.
DAY AHEAD:
* Investors will be keeping an eye on major quarterly earnings announcements in the United States, including for Goldman Sachs Group Inc. , International Business Machines Corp and Intel Corp . (Reporting by Clement Tan; Editing by Chris Lewis)