HONG KONG, March 12 Hong Kong shares slipped
from a three-week high on Tuesday, hurt by a soft mainland
market as weakness in China Life Insurance offset strength in
the local property sector after New World Development announced
plans for a spinoff listing.
The Hang Seng Index closed down 0.9 percent at
22,890.6. The China Enterprises Index of the leading
Chinese listings in Hong Kong fell 1.3 percent.
The CSI300 of the leading Shanghai and Shenzhen
A-share listings closed down 1.4 percent. The Shanghai Composite
Index shed 1.0 percent. For both, this was their fourth
straight daily loss.
* China Life Insurance lost 3.2 percent after
clarifying late on Monday that its chairman's comments about an
improvement in profits were his opinion and should not be taken
as an earnings forecast. Its Hong Kong shares were suspended on
* Shares of New World Development climbed 0.9
percent after the Hong Kong property developer said it is
considering a possible spin-off and separate listing of some