Hong Kong shares fall on profit-taking

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HongKong111

Hong Kong - Hong Kong shares finished lower on Thursday, with investors taking profits on Chinese energy firms and companies that posted strong earnings.

A decline in mainland China indexes also weighed on the market.

The Hang Seng Index ended down 0.4 percent at 24,801.36 points, after hitting its highest intraday level since November 2010.

The China Enterprises Index of the leading offshore Chinese listings in Hong Kong, which closed at an 8-month high on Wednesday, sank 1.1 percent.

Tencent Holdings was the biggest index drag, shedding 2.3 percent.

The largest-listed Chinese tech firm on Wednesday posted a profit gain of more than 50 percent in the second quarter as smartphone gaming revenue grew at a breakneck pace.

Shares of Lenovo Group were also pulled down from their more than 14-year high with a drop of 1.4 percent, after reporting results that beat estimates.

Chinese oil giants PetroChina slid 1.7 percent and China Petroleum & Chemical Corp 0.9 percent. - Reuters



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