* HSI -0.1 pct, H-shares -0.4 pct, CSI300 -0.3 pct
* Mainland property down, data shows further sector weakness
* Macau casinos bounce after SJM results beat expectations
* Chinese insurers rise on new policy support
(Updates to midday)
By Grace Li
HONG KONG, Aug 14 Hong Kong and China shares
eased in choppy trade by midday on Thursday, with a few
heavyweight companies that reported corporate results dominating
By midday, the CSI300 of the leading Shanghai and
Shenzhen A-share listings fell 0.3 percent, while the Shanghai
Composite Index was off 0.1 percent at 2,221.80 points.
The Hang Seng Index inched down 0.1 percent to
24,871.55 points. The China Enterprises Index of the top
Chinese listings in Hong Kong slipped 0.4 percent.
Helped by solid gains from the previous three sessions, the
Hang Seng is again hovering near more than 3-1/2-year highs.
"Investors are just taking it easy and waiting for more news
in order to propel the market to go higher," said Jackson Wong,
vice-president of Tanrich Securities in Hong Kong.
Wong added he expected the benchmark index to hit 25,000
points in late August or September, which would be the highest
level since May 2008.
Tencent Holdings was the biggest drag on the
index, sinking 2.1 percent to HK$130.40 on profit-taking. The
biggest-listed Chinese tech firm on Wednesday posted a profit
gain of more than 50 percent in the second quarter as smartphone
gaming revenue continued to grow at a breakneck pace.
"The stock shouldn't encounter huge selling pressure. Around
HK$128, it should have very good support. Investors are trying
to bite a piece of Tencent," said Wong.
Shares of other companies with good results were stronger.
Lenovo Group added 0.5 percent. SAIC Motor
climbed 3.7 percent to a two-week high, the biggest boost on the
two onshore indexes.
Chinese property companies suffered losses. China Overseas
Land & Investment shed 2.5 percent in Hong Kong, while
China Vanke slid 1.3 percent in Shenzhen.
Data on Wednesday showed China's property market weakened
further in July, with real estate investment slowing and sales
falling sharply despite efforts by many local governments to
shore up the troubled sector.
The Macau gaming sector had a rebound, thanks to
second-quarter results from SJM Holdings which came in
better than expected. SJM jumped 4.9 percent, as did sector
rival Wynn Macau.
Hong Kong-listed Chinese insurers outperformed among broadly
weaker H-shares. PICC Property and Casualty rose 1.6
percent and People's Insurance Group of China 0.9
The sector was lifted by a policy announcement by the State
Council on Wednesday to speed the development of modern
(Editing by Jacqueline Wong)