* HSI -0.2 pct, H-shares -0.3 pct, CSI300 -1.6 pct
* Chinese property falls on fear of risk of developer
* Samsonite up 10.6 pct on 2013 profit report
(Updates to midday)
By Alice Woodhouse and Chen Yixin
HONG KONG/SHANGHAI, March 19 Chinese shares fell
on Wednesday, dragged down by the property sector after the
central bank denied it was part of talks about helping an ailing
Problems at unlisted Zhejiang Xingrun Real Estate Co. are
hurting Chinese property shares on the mainland and in Hong
By midday, the CSI300 of the largest Shanghai and
Shenzhen A-share listings fell 1.6 percent, while the Shanghai
Composite Index was down 0.9 percent at 2,2006.20
The Hang Seng Index was down 0.2 percent at 21,549.49
points. The China Enterprises Index of the top Chinese
listings in Hong Kong fell 0.3 percent.
In Hong Kong, many investors stayed on the sidelines ahead
of a statement following a US Federal Reserve meeting, due early
Thursday Asia time.
While there is concern about the risk of a default for a
small developer, "the market has been overreacting to this news,
because large developers like China Overseas and China Resources
have also come down quite substantially," said Steven Leung,
sales director at UOB Kay Hian in Hong Kong, adding that those
companies don't face any difficulties.
On Wednesday, shares in Hong Kong-listed China Resources
Land fell 1 percent and China Overseas Land and
Investment was down 1.2 percent.
Shenzhen-listed property developer China Vanke
fell 4 percent while Poly Real Estate declined 2.8
Luggage maker Samsonite shares jumped 10.6 percent
after the company reported an 18.6 percent rise in its 2013
profit at $176.1 million.
Shares in Goodbaby International dropped 4.3
percent after the stroller-maker and distributor company
reported 2013 profit fell 6.5 percent to HK$171.1 million
Internet giant Tencent stock dropped 2.3 percent
ahead of 2013 earnings results as concerns remained over a
crackdown on online payments by China's central
($1 = 7.7669 Hong Kong Dollars)
(Editing by Richard Borsuk)