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Hong Kong shares retreat from 16-mth high
December 13, 2012 / 8:06 AM / 5 years ago

Hong Kong shares retreat from 16-mth high

HONG KONG, Dec 13 (Reuters) - Hong Kong shares pulled back from 16-month highs as concern over the U.S. “fiscal cliff” and weak mainland shares prompted investors to take some money off the table.

The Hang Seng index ended down 0.3 percent at 22,445.58. The China Enterprises index eased 0.2 percent.

In China, the CSI300 closed down 1.1 percent at 2,242.64. The Shanghai Composite fell 1.0 percent.


* Utilities were weak in Hong Kong led by a 3.6 percent drop for CLP Holdings after it raised $982 million in new shares to fund expansion. Power Assets fell 1.4 percent.

* Corporates and investors have taken advantage of the recent rally in Hong Kong to sell shares in the open market. Shares of property firm Kaisa Holdings slumped 7.7 percent after private equity firm Carlyle Group said it was selling up to $67 million of stock in the company.

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