* HSI -0.2 pct, H-shares -0.1 pct, CSI300 -0.9 pct
* Ten coming IPOs expected to lock up 900 billion yuan
* BYD drops up to 8.7 pct after H1 net profit falls sharply
* Sinopec rises as Q2 earnings beat forecast
(Updates to midday)
By Grace Li
HONG KONG, Aug 25 China shares slipped on Monday
as investors set aside money for coming initial public offerings
(IPOs), while the Hong Kong market also edged lower.
By midday, the Hang Seng Index inched down 0.2
percent to 25,065.73 points. The China Enterprises Index
of the top Chinese listings in Hong Kong was off 0.1 percent.
The CSI300 of the leading Shanghai and Shenzhen
A-share listings fell 0.9 percent, while the Shanghai Composite
Index was down 0.5 percent at 2,229.86 points.
"The market is under relatively big pressure to consolidate
in the short term, since there have been solid gains recently,"
said Wang Weijun, an analyst at Zheshang Securities in Shanghai.
"A major factor today is the IPO subscriptions which will
start later this week, bringing liquidity pressure."
On Thursday and Friday, 10 out of the 11 IPOs which were
approved last week will start taking subscriptions. That is
expected to lock up 900 billion yuan ($146.33 billion) in funds,
according to the Southern Metropolis Daily in Guangzhou.
Chinese banks suffered losses on Monday. Industrial and
Commercial Bank of China slid 0.6 percent and
smaller China Merchants Bank fell 1.1 percent.
Earnings reports aided some index heavyweights, including
Sinopec Corp , which rose 1.7 percent in
Shanghai and 2.5 percent in Hong Kong after beating forecasts
with a 36 percent rise in second-quarter profit.
Sinopharm Group, China's largest drug distributor,
rose 3.9 percent to a 17-month high after reporting first-half
net profit rose to 1.47 billion yuan ($239.01 million) from 1.15
billion yuan a year ago.
In contrast, shares of carmaker BYD Co Ltd
were hurt by a disappointing 16 percent drop in
first-half net as sluggish sales of gasoline cars offset a surge
in its electric vehicle business.
It finished the morning down 1.2 percent in Hong Kong -
cutting early losses of 8.7 percent - and 2.4 percent in
Shenzhen. BYD's H-shares are still up 28 percent this year,
ahead of the H-share benchmark's 2.1 percent gain.
Subsidiaries of state-owned China Resources Holdings Co
Ltd's fell after state media said its former audit
director is being investigated by police in a matter related to
China Resources Gas plunged 9.7 percent and China
Resources Enterprise was down 3.2 percent.
(1 US dollar = 6.1503 Chinese yuan)
(Editing by Richard Borsuk)