HONG KONG Feb 13 Hong Kong shares slipped from
three-week highs on Thursday, with changes in index components
driving major price moves while investors took some profits
after robust gains in the past week.
The Hang Seng Index ended down 0.5 percent at
22,165.5 points, while the China Enterprises Index of
the leading offshore Chinese listings in Hong Kong sank 1.2
percent. Both had closed on Wednesday at their highest since
China Coal Energy dived 3.9 percent and Zoomlion
Heavy Industry tumbled 4.6 percent after their
exclusion from the Hang Seng and China Enterprises indexes,
One replacement, China Mengniu Dairy, jumped 3.8
percent, while the other - Warren Buffett-backed electric
vehicle maker BYD Co Ltd - soared 6 percent.
Want Want China spiked 6.5 percent after Bank of
America-Merrill Lynch analysts upgraded the stock by two notches
to "buy", believing new product launches will ease margin
concerns and help the company maintain one of the highest profit
margins in the Chinese consumer staple sector.
Beijing is due to post January money supply and loan growth
data by Saturday, with inflation figures due on Friday. Trade
data on Wednesday handily beat expectations, but there was
scepticism given past distortions from fake trade transactions.