Gains evaporate on Fed's rate rise

Property markets and financial services are most affected stocks

Gains by Chinese mainland and Hong Kong stocks evaporated on Thursday, after the US Federal Reserve raised its short-term interest rate for the first time this year.

The benchmark Shanghai Composite slipped by 0.73 percent, or 22.85 points, to finish at 3,117.677 on Thursday, while the Hang Seng Index (HIS) in Hong Kong hit a four-month low by dropping 1.77 percent, or 397.22 points, to close at 22,059.40.