Hong Kong stocks slip on company corruption probe, China shaken by IPO fears

martes 22 de abril de 2014 00:48 GYT
 

* China Resource Power tumbles on parent company chair investigation

* Mainland investors cautious after more companies cleared for listings

* H shares down on weak earnings

By Natalie Thomas

BEIJING, April 22 (Reuters) - Hong Kong shares eased on Tuesday, with a sell-off in China Resource Power Holdings Co Ltd and its subsidiaries weighing on index performance after the parent company's chairman was snared in a graft investigation.

Mainland China shares were also down as investors remained on edge after 18 additional companies gained listing approval last night, further stoking fears of funds being diverted from existing companies.

By midday, the Hang Seng Index was down 0.2 percent at 22,707.24 points. The China Enterprises Index of the top Chinese listings in Hong Kong dropped 0.8 percent.

The CSI300 index of the largest Shanghai and Shenzhen A-share listings was down 0.1 percent, while the Shanghai Composite Index was down 0.1 percent at 2,184.11 points.

In Hong Kong, shares in state owned energy giant China Resources Power tumbled 10 percent after Chinese authorities said they were probing the head of its parent group for corruption.   Continuación...