* HSI -1.0 pct, H-shares -1.6 pct, CSI300 -2.0 pct
* Beta plays take brunt of hit, cement producers tumble
* Great Wall Motor slides from Monday's record closing highs
By Clement Tan
HONG KONG, April 23 Hong Kong and China shares
extended losses on Tuesday, led by cyclical sectors after a
preliminary survey of manufacturing activity in April in the
world's second-largest economy came in weaker than expected.
China's flash HSBC Purchasing Managers' Index for April fell
to 50.5 from 51.6 in March, as Beijing said Chinese companies
are still facing problems of overcapacity and have no strong
desire to make new investments.
At 0232 GMT, the Hang Seng Index was down 1 percent
at 21,828.7 points. The China Enterprises Index of the
leading Chinese listings in Hong Kong shed 1.6 percent.
The CSI300 of the top Shanghai and Shenzhen
A-share listings slid 2 percent, while the Shanghai Composite
Index lost 1.6 percent. Both are headed for their worst
daily loss since March 28.
The Chinese banking sector was among the leading index drags
in both markets. Industrial and Commercial Bank of China
fell 1.5 percent in Hong Kong and 0.5
percent in Shanghai.
Anhui Conch Cement tumbled 3.8 percent
in Hong Kong and 4 percent in Shanghai after China's largest
cement producer said its 2013 first-quarter net profit declined
22 percent from a year earlier.
Great Wall Motor fell 3.3 percent in
Hong Kong and was flat in Shanghai. Both its A and H-share
listings had closed at record highs on Monday. Traders had cited
comments from an executive that new products unveiled over the
weekend could help raise 2013 sales by 30 percent, higher than
the company's previous guidance.
But in a statement to the Hong Kong Exchange after markets
closed on Monday, the company denied April 22 news reports which
cited an executive saying its sports utility sales surged 92
percent in the first quarter and that new vehicles would help
the company post a 30 percent increase in 2013 sales.