* HSI +0.5 pct, H-shares +0.6 pct, CSI300 -0.3 pct
* Industrial Bank partially halts funding ahead of more
* China property still weak, Vanke hits 5-year low
* Neusoft buoyed by agreement with Alibaba's cloud computing
* Macau casinos outperform on hopes of stellar February
By Clement Tan
HONG KONG, Feb 25 China shares hovered at their
lowest in more than two weeks early on Tuesday, limiting gains
in Hong Kong, with property developers staying under pressure as
fears lingered the government would impose more lending curbs on
Industrial Bank confirmed after markets shut on
Monday that it had halted mezzanine financing for the real
estate sector which accounts for a small portion of its overall
lending business, pending new rules on its property-related
loans to be unveiled by the end of March.
"Policy concerns are magnified now because the annual
parlimentary meetings are next week and people are jittery about
the kind of measures that could emerge from that," said Guo
Yanling, a Shanghai-based analyst with the brokerage Shanghai
At midday, the CSI300 of the leading Shanghai and
Shenzhen A-share listings was down 0.3 percent, near its lowest
since Feb. 7 and nearly erasing a post-Lunar New Year holiday
rally. The Shanghai Composite Index was up 0.1 percent.
Both had on Monday suffered their biggest one-day loss since
Jan. 6 in robust volumes.
The Hang Seng Index rose 0.5 percent to 22,489.5
points, with chart resistance seen at its 200-day moving average
at about 22,493.6 points. The China Enterprises Index of
the leading Chinese listings in Hong Kong, which ened on Monday
at its lowest since Feb. 10, climbed 0.6 percent.
HSBC Holdings sank 2.4 percent after Europe's
largest bank missed market expectations with a 9 percent
increase in annual profit and warned of greater volatility in
emerging markets this year.
Greentown China fell another 2.3 percent in Hong
Kong after slumping more than 9 percent on Monday. China Vanke
, which tumbled 6.6 percent on Monday, dropped
another 1.1 percent to its lowest since January 2009.
Chinese banks mostly rebounded. Industrial Bank rose 0.8
percent in Shanghai, while Ping An Bank climbed 1.3
percent in Shenzhen.
There were gains, however, for Neusoft Corp,
whose shares surged 10 percent in Shanghai after the official
Shanghai Securities News reported on Tuesday it had signed an
agreement to collaborate with Ali Cloud, the cloud computing arm
of Alibaba Group.
Macau casinos outperformed on hopes February gaming revenue
would top expectations. Nomura analysts said gaming revenue
through Feb. 23 imply an increase of 33 to 35 percent for the
entire month from a year earlier.
Galaxy Entertainment jumped 4 percent, while Sands
China soared 4.6 percent. SJM Holdings,
which is due to report 2013 full-year earnings on Wednesday,
rose 2.3 percent.