Hong Kong shares fall on weak results

The Hong Kong skyline.

The Hong Kong skyline.

Published Oct 30, 2014

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Shanghai - Hong Kong shares ended lower on Thursday, as investors sold shares in companies that posted weaker earnings for the third quarter.

The Hang Seng Index unofficially closed down 0.5 percent at 23,702.04 points, while the China Enterprises Index of the leading offshore Chinese listings in Hong Kong declined 0.9 percent.

Several major companies and banks posted weaker-than-expected results or provided pessimistic earnings outlooks.

Shares of BYD slumped 7.8 percent, West China Cement dropped 2.5 percent, and China Citic Bank declined 0.8 percent.

Chinese state-run oil giants PetroChina and CNOOC were among the main drags, falling 1.9 percent and 4.9 percent, respectively, after they reported disappointing results on Wednesday due to a slump in crude prices. - Reuters

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