Hong Kong shares fall

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Hong Kong shares slipped from a 19-1/2 month high on Monday, with China's second-largest telecommunication equipment maker ZTE Corp weaker after a profit warning.

The Hang Seng Index closed down 0.1 percent at 23,590.9. The China Enterprises Index of the top Chinese listings in Hong Kong ended up 0.2 percent.

The CSI300 of the top Shanghai and Shenzhen A-share listings closed up 0.6 percent at 2,610.9. The Shanghai Composite Index gained 0.5 percent. They each closed at their highest since June 1, 2012.

HIGHLIGHTS:

* The Chinese shipping sector was lifted after China Shipping Container Lines (CSCL) said on Friday that it expects to post a net profit for 2012 after reporting a loss the year before.

* CSCL jumped 3.9 percent, also helped by a mainland news report that Beijing is working out a plan to help the sector, involving tax and other financial support likely to be rolled out in the first half of the year.

* ZTE Corp shed 1.4 percent after China's second-largest telecom equipment maker issued a profit warning for 2012. This contrasted with its larger rival, the unlisted Huawei Technologies, which bounced back from a disappointing 2011 with a 33 percent rise in net profit for 2012, and forecast stronger revenue growth, buoyed by smartphone sales and cloud computing. - Reuters


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