June 30, 2014 / 8:10 AM / in 4 years

Hong Kong shares fall, but post quarterly gains

HONG KONG, June 30 (Reuters) - Hong Kong shares finished lower on Monday, reversing earlier gains, with investors taking profits and reshuffling their portfolios for the next half of the year.

The Hang Seng Index inched down 0.1 percent to 23,190.72 points. The China Enterprises Index of the leading offshore Chinese listings in Hong Kong was up 0.3 percent.

The Hong Kong benchmark was up 4.7 percent on the quarter while the H-share index climbed 2.6 percent. Both indexes were down 0.5 and 4.4 percent in the first half year, respectively.

Macau casinos outperformed, with Galaxy Entertainment Group up 3.6 percent to its highest since May 23, after its founder and chairman Lui Che-Woo said on Friday that China’s slowdown won’t hurt business.

China Telecom Corp gained 1.6 percent and China Unicom Hong Kong rose 0.8 percent after they received high-speed 4G mobile network test licences for the FDD-LTE standard in 16 cities late on Friday.

Hong Kong markets will be closed on Tuesday for a holiday.

Beijing is set to release the official Purchasing Managers’ Index for June on Tuesday, which is likely to show China’s vast factory sector registered its best performance this year as growth quickened to a six-month high. (Reporting by Grace Li; Editing by Jacqueline Wong)

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