December 4, 2012 / 8:11 AM / 5 years ago

Hong Kong shares edge up as telcos support; casino stocks weak

HONG KONG, Dec 4 (Reuters) - Hong Kong shares pared losses to end slightly higher on Tuesday as investors, encouraged by a bounce in China's domestic markets from four-year-lows, bought into large-cap energy and telecommunications stocks.

The benchmark Hang Seng index ended the day up 0.2 percent at 21,799.97 points while the China Enterprises index of top locally listed mainland shares rose 0.6 percent.

On the mainland, the China's Shanghai Composite rebounded from the previous day's four-year closing low to end 0.8 percent higher. The CSI300 of top Shanghai and Shenzhen listings rose 1.1 percent.


* The Chinese telecom sector was the best performer in Hong Kong led by heavyweight China Mobile which ended up 1.4 percent. China Unicom ended flat while China Telecom rose 2.9 percent. A report on cited industry sources saying Unicom's iPhone 5 pre-orders in Hong Kong reached 100,000 users on the first day.

* Casino stocks were on the backfoot as investors locked in profits a day after Macau's gambling revenue in November came in line with expectations amid growing fears that Chinese authorities were stepping up scrutiny of money transfers in Macau as part of a wider anti-corruption campaign. Galaxy Entertainment slumped 4.5 percent while Wynn Macau slid 5.5 percent.

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