June 16, 2014 / 8:15 AM / 4 years ago

Hong Kong shares in flat finish, Fed meeting in focus

HONG KONG, June 16 (Reuters) - Hong Kong shares finished a tick lower on Monday, with investors remaining cautious and awaiting direction from a U.S. Federal Reserve meeting which will conclude on Wednesday.

Markets are watching for any signals on when the U.S. central bank might begin raising interest rates.

The Hang Seng Index closed down 0.1 percent at 23,300.7 points. The China Enterprises Index of the leading offshore Chinese listings in Hong Kong inched up 0.1 percent.

Chinese banks pulled back slightly after recent strong gains. China Construction Bank, the biggest drag on both indexes, lost 0.7 percent after closing at its highest this year in the previous session.

China’s oil companies were strong, buoyed by recent highs in crude prices and President Xi Jinping’s call for a drastic change in the energy sector faced with rising demand and supply constraints.

PetroChina rose 1.0 percent to an almost seven-month high. (Reporting by Grace Li; Editing by Jacqueline Wong)

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