Hong Kong H-shares slump

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HongKong111

Hong Kong - The index of Chinese companies listed in Hong Kong edged down to a one-month closing low on Wednesday, weighed down by China banks and insurers, while the benchmark index remained tepid.

The China Enterprises Index of the leading offshore Chinese listings in Hong Kong shed 0.7 percent at 10180.05 points, its lowest since May 27.

The Hang Seng Index ended down 0.1 percent at 22,866.70 points.

China's biggest lender, Industrial and Commercial Bank of China, was off 0.6 percent, tracking its A-share losses on the mainland. Agricultural Bank of China was down 0.8 percent, continuing a retreat after last week reaching this year's high.

Ping An Insurance lost 0.7 percent and China Pacific Insurance Group 0.9 percent.

China Mobile was a big boost to the benchmark index, adding 0.4 percent, while competitor China Telecom Corp dragged the H-share index down with a 2.6 percent drop. - Reuters



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