HK, China shares slip after investment rule excitement, H-shares off sharply

viernes 11 de abril de 2014 01:11 GYT
 

* HSI -0.7 pct, H-shares -2.1 pct, CSI300 -0.5 pct

* H-shares hit by sell-off in dual listed shares

* Concerns over economic fundamentals weigh on markets

By Natalie Thomas

SHANGHAI, April 11 (Reuters) - Hong Kong shares fell on Friday with H-shares down sharply, as new rules allowing mainland and Hong Kong investors to invest in each other's markets led to a sell-off in dual-listed shares previously trading at premium to their mainland counterparts.

Mainland indexes also fell, as Thursday's excitement over the new rules gave way to concerns about fundamentals after two top government officials warned against any major stimulus measures as the economy slows.,.

By midday, the Hang Seng Index was down 0.7 percent at 23,033.68 points. The China Enterprises Index of the top Chinese listings in Hong Kong dropped 2.1 percent, its lowest one-day percentage drop in nine weeks.

The CSI300 index of the largest Shanghai and Shenzhen A-share listings was down 0.5 percent, while the Shanghai Composite Index was down 0.6 percent at 2,121.7 points.

Investors sold Hong Kong-listed H-shares in a bid to narrow the gap between the stock prices in the city and in Shanghai, triggering the biggest loss for the H-share index since Feb. 4.   Continuación...