Hong Kong shares ended a choppy Thursday flat, with Chinese financials weaker after stronger-than-expected China inflation doused hopes of a near-term cut in bank reserve requirements.

The Hang Seng Index closed down 0.04 percent at 21,010.01. The China Enterprises Index of top mainland listings finished down 0.31 percent at 11,669.15.

The Shanghai Composite Index ended up 0.09 percent at 2,349.59 after briefly testing its 100-day moving average at about 2,360.2 in the highest A-share turnover since Jan. 10.

HIGHLIGHTS:

* The Hang Seng Index met stiff resistance at its 250-day moving average, a level it has not finished above since July 7 last year and currently seen at about 21,023. 21,017.2 is the bottom of a 708-point gap that opened between August 4 and 5, making current levels formidable chart levels that if breached, could point to further strength ahead.

* Turnover surged to the highest since December 1.

* Chinese developers were standout performers, extending gains after housing inflation declined, a second positive jolt this week to a sector that for most is the biggest concern in the world's second-largest economy. Beijing moved late on Tuesday to support first-time homebuyers. China Resources Land Ltd jumped 5.7 percent in more than three times its 30-day average volume to end at the highest since Aug. 2 last year.

* Trading in shares of Alibaba.com Ltd was halted on Thursday pending an announcement regarding its parent, Chinese e-commerce giant Alibaba Group, which is reported to be planning to buy back the 40 percent stake in it held by Yahoo Inc.

DAY AHEAD:

* Beijing is expected to post trade data for January on Friday. China's exports may have expanded 4.8 percent in January from a year earlier while imports may have inched up only 0.5 percent, yielding a trade surplus of $10.4 billion, according to the median forecasts from a Reuters poll of 19 analysts. - Reuters