November 12, 2012 / 8:06 AM / in 5 years

Hong Kong shares edge up; Tencent gains, HSBC weak

HONG KONG, Nov 12 (Reuters) - Hong Kong shares rose slightly on Monday after last week’s slump, buoyed by gains in property developers and Tencent Holdings, although worries about the U.S. fiscal cliff kept trading activity muted.

The Hang Seng index ended up 0.2 percent at 21,430.3 while the China Enterprises index closed down 0.1 percent.

In China, the CSI300 of top Shanghai and Shenzhen listings and the Shanghai Composite both gained 0.5 percent.


* China’s Tencent Holdings rose 1.7 percent ahead of its quarterly results, with analysts expecting a strong showing as school holidays in China drove users online, powering the firm’s strong online games revenue. Tencent shares were the biggest boost to the benchmark Hang Seng index.

* Index heavyweight HSBC Holdings fell 0.2 percent, remaining on the backfoot following a report that the bank was at the centre of an investigation by British tax authorities.

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