China Vanke’s Hong Kong shares open 1% lower after Moody’s starts ratings review

FILE PHOTO: FILE PHOTO: Vanke sign is seen above workers working at the construction site of a residential building in Dalian By Clare Jim and Scott Murdoch SYDNEY (Reuters) -China Vanke’s shares are have opened down 1% in Hong Kong on Tuesday after Moody’s said the property company’s rating would now be considered for junk status. Its Shenzhen-listed shares opened down 0.6%. Moody’s said on Monday it withdrew Vanke’s ‘Baa3’ rating which is the lowest of Moody’s investment grade ratings. It also said all of Vanke’s ratings would be on “review for downgrade”. In a statement to Reuters, Vanke said…