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Hong Kong shares edge up; ZTE, China retailers slump
October 15, 2012 / 8:10 AM / 5 years ago

Hong Kong shares edge up; ZTE, China retailers slump

HONG KONG, Oct 15 (Reuters) - Hong Kong shares edged to a fresh five-month high on Monday as mild gains in local blue-chip property developers offset weakness in Chinese retailers hurt by profit warnings.

The Hang Seng Index closed up 0.1 percent at 21,148.3. The China Enterprises Index of the top Chinese listings in Hong Kong rose 0.3 percent.

The CSI300 Index of the biggest Shanghai and Shenzhen listings closed down 0.4 percent while the Shanghai Composite Index lost 0.3 percent. Both indices closed at their lowest since Oct. 8.


* China’s second-largest telecom equipment maker ZTE slumped 15.8 percent in heavy volume, after flagging a loss of as much as $279.2 million for the first nine months of the year.

* Angang Steel lost 2.3 percent after the company warned late on Friday that it could make a loss of $505 million for the first nine months this year.

* Belle International, China’s leading foot- and sportswear retailer, slid 4.3 percent after announcing underwhelming same-store sales growth in the third quarter. (Reporting by Clement Tan; Editing by Anne Marie Roantree)

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