Hong Kong shares slip

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HongKong111

Hong Kong - Hong Kong shares finished lower on Thursday, joining other Asian markets in slipping after Wall Street stepped back from record levels.

The Hang Seng Index closed down 0.4 percent at 23,175.02 points.

The China Enterprises Index of the leading offshore Chinese listings in Hong Kong slid 0.7 percent.

Leading losses in the benchmark index was China Mengniu Dairy, which sank nearly 3 percent after Macquarie Research downgraded it to “underperform” from “neutral”, citing risks from a subsidiary and competition from imported ultra heat treated milk.

Mengniu shares have fallen more than 16 percent from mid-April highs.

Hong Kong developers extended losses on Thursday. Hang Lung Properties lost 1.7 percent and Cheung Kong Holdings was off 1.2 percent. - Reuters



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