* HSI -0.3 pct, H-shares -0.2 pct, CSI300 -0.7 pct
* Beta plays slide after China April inflation bust
* Solar plays hurt by EU import duties
By Yimou Lee
HONG KONG, May 9 Hong Kong and China shares were
set to snap winning streaks on Thursday as Chinese inflation
data came in slightly stronger than expected and after a move by
the central bank to drain funds triggered a rotation out of
China's April annual consumer inflation quickened to 2.4
percent from a year earlier, versus a 2.3 percent Reuters
consensus, while producer prices dropped 2.6 percent, more than
an expected 2.3 percent.
By midday, the Hang Seng Index was down 0.3 percent
at 23,179.5 points, after closing on Wednesday at its highest
since Feb. 20. The China Enterprises Index of the top
Chinese listings in Hong Kong fell 0.2 percent. Both looked set
for their first loss in five days.
The CSI300 of the leading Shanghai and Shenzhen
A-share listings fell 0.7 percent from Wednesday's six-week
closing high, and looked headed for its first loss in six days.
The Shanghai Composite Index was also down 0.7 percent,
set for its first loss in five days.
"We have some profit-taking pressure after the inflation
data, which provided a catalyst," said Ben Kwong, chief
operating officer at securities house KGI Asia.
The Chinese central bank issued bills for the first time
since 2011 on Thursday, auctioning 10 billion yuan ($1.63
billion) of three-month bills. The People's Bank of China also
drained 92 billion yuan this week.
Growth-sensitive counters that have tracked the rebound in
the past week were among the bigger percentage losers.
Anhui Conch Cement shed 2.1 percent
from Wednesday's 2-1/2-month closing high in Hong Kong. Its
Shanghai listing dived 3.1 percent.
The official China Securities Journal newspaper reported on
Thursday that Beijing has drafted plans to crack down on
oversupply in industries including steel, cement and glass.
China solar energy shares slid after the European Commission
agreed on Wednesday to impose punitive import duties on solar
panels from China in a move to guard against what it sees as
Chinese dumping of cheap goods in Europe.
GCL-Poly Energy shed 3.1 percent in Hong Kong, and
was headed for its worst day in about a month.
Europe-focused clothing retailer Esprit Holdings Ltd
sank another 0.6 percent after falling nearly 5
percent on Wednesday following a profit warning.
The company had said on Wednesday it has hired more staff
from Inditex to drive its restructuring and implement
the fast turnaround on which the larger Spanish rival has built