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Hong Kong shares close down 0.1 pct, Tencent outperforms
HONG KONG |
HONG KONG Jan 16 (Reuters) - Hong Kong shares retreated further on Wednesday from levels last seen in June 2011, as investors took profits on recent outperformers such as Chinese financials ahead of more China economic data at the end of the week.
The Hang Seng Index closed down 0.1 percent at 23,357 points. The China Enterprises Index of the top Chinese listings in Hong Kong ended down 0.8 percent at 11,907.5. This was both indexes' second-straight loss.
The Shanghai Composite Index and CSI300 of the top Shanghai and Shenzhen A-shares each shed 0.7 percent, falling from their highest levels since early June.
* Investors rotated out of recent growth-sensitive sectors that have led the strong start to 2013 such as Chinese financials, railway and resources counters and into some consumer names. Chinese internet giant Tencent Holdings outperformed the broader market with a 3.5 percent jump.
* Hong Kong property developers were broader higher after a policy speech by the territory's embattled leader Leung Chun-ying, that included plans to increase land supply to cool the property market. Sun Hung Kai Properties climbed 1.4 percent, but New World Development inched up 0.3 percent.
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