Hong Kong shares fall as telecoms weaken

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Hong Kong - Hong Kong shares declined on Wednesday with investors taking profits on Chinese telecom firms and awaiting direction from major corporate earnings later this month.

The Hang Seng Index closed down 0.3 percent at 24,584.13 points.

The China Enterprises Index of the leading offshore Chinese listings in Hong Kong slipped 0.3 percent to a two-week low.

The top percentage loser on the Hang Seng was China Unicom, which sank 5.3 percent after closing on Tuesday at its highest since October 2012.

The one-day drop was also its biggest since May 2013.

China Mobile shed 1.3 percent and China Telecom 2.1 percent.

ANTA Sports Products jumped 5.2 percent to a more than three-year high.

The biggest footwear retailer by market value in China posted a forecast-beating 28 percent rise in first-half net profit on Wednesday as growth picked up in its children's products and e-commerce. - Reuters

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