China H-shares extend losses, down more than 3.1 pct
HONG KONG Dec 11 (Reuters) - Offshore Chinese shares listed in Hong Kong extended losses on Wednesday, as selling pressure spiked for index futures ahead of the end of an annual economic planning conference where China's leaders are expected to set 2014 economic targets.
At 0648 GMT, the China Enterprises Index of the top offshore Chinese listings in Hong Kong was down 3.14 percent. The Hang Seng Index was down 1.7 percent at 23,355.5 points, having earlier broken below chart support at 23,500.
Traders said losses in Hong Kong had accelerated in the late morning as selling pressure spiked for index futures, which in turn first triggered some callable bull contracts at about 23,500 for the Hang Seng Index.
While 2014 economic targets decided at the meeting, which started on Tuesday, are usually only announced in March, investors expect a communiqué at the end of the meeting to signal Beijing's reform priorities for the new year.
- Search for Malaysian plane may extend to Indian Ocean - U.S |
- Search for Malaysian plane may extend to Indian Ocean: U.S. |
- Tire blows out on passenger jet taking off at Philadelphia airport
- Russia holds war games near Ukraine; Merkel warns of catastrophe |
- Facebook CEO Zuckerberg phoned Obama to complain about spying