Hong Kong shares down on weakness in mainland China markets

Tue Jan 27, 2015 3:07am EST

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Jan 27 (Reuters) - Hong Kong shares snapped a five-day winning streak on Tuesday, dragged down by losses in mainland China markets.

Profits at major Chinese industrial companies in December fell 8 percent from a year earlier as the economy slowed, data showed.

Traders were also watching China's yuan, which hit a near-eight-month low against the dollar on Monday. It edged higher on Tuesday after the central bank fixed a moderately stronger midpoint.

The Hang Seng index fell 0.4 percent to 24,807.28 points, while the China Enterprises Index lost 1.6 percent to 12,030.38 points.

Among the most actively traded stocks on Hong Kong's main board were Wai Chun Group Holdings Ltd, up 30.0 percent at HK$0.07, Wai Chun Mining Industry Group Co Ltd , up 65.7 percent at HK$0.18 and Ping Shan Tea Group Ltd, up 4.0 percent at HK$0.08.

Chinese investment flowing from Shanghai into Hong Kong through the mutual market access pilot programme took up 0.89 billion yuan ($142.48 million) of the 10.5 billion yuan daily quota.

Total trading volume of companies included in the HSI index was 1.7 billion shares. ($1 = 6.2466 Chinese yuan) (Reporting by Shanghai Newsroom; Editing by Kim Coghill)

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