HONG KONG Nov 15 Hong Kong shares ended at its
lowest in a month on Thursday, reversing the previous day's
gains as investors cut risk over uncertainty about policies and
reform in the world's second-largest economy after China
unveiled a new batch of leaders.
The Hang Seng Index closed down 1.6 percent at
21,108.9, the lowest close since Oct. 11. The China Enterprises
Index of the top Chinese listings in Hong Kong finished
down 2 percent at 10,199.6.
In the mainland, the CSI300 Index of the top
Shanghai and Shenzhen listings closed down 1.3 percent, while
the Shanghai Composite Index fell 1.2 percent. Both
indexes closed at their lowest since Sept. 26.
* Tencent Holdings suffered its worst day in more
than 13 months, slumping 7 percent to their lowest level since
mid-September after it reported that efforts to expand into new
businesses hit margins and the number of fee-paying users for
its Internet services fell.
* Esprit Holdings outperformed, surging 22 percent
after its former chairman increased his holding in the
Europe-focused fashion retailer, fuelling hopes he would play a
bigger role in the company.
* Thursday losses took the Hang Seng Index below chart
resistance at 21,200, the 23.6 percent retracement of its rise
from September lows to November highs, pointing to more
* China's ruling Communist Party unveiled an ageing,
conservative new leadership line-up on Thursday unlikely to take
the drastic action needed to tackle pressing woes like growing
social unrest, environmental degradation and corruption. Aside
from new party chief Xi Jinping, premier-in-waiting Li Keqiang
and vice-premier in charge of economic affairs Wang Qishan,
considered cautious reformers, the elite decision-making
Politburo Standing Committee members are all conservative