China stocks fall on weaker property, Hong Kong slips too

miércoles 4 de junio de 2014 01:00 GYT

* HSI -0.6 pct, H-shares -0.6 pct, CSI300 -1.2 pct

* China property sector down on concerns about price cuts

* Environment-protection firms surge on steps to curb pollution (Updates to midday)

By Grace Li

HONG KONG, June 4 (Reuters) - China shares sank on Wednesday, led by losses in property counters as investors fretted that soft demand for new homes in the mainland could cut prices and hurt developers.

Hong Kong shares slipped from Tuesday's five-month high as some investors took profit after recent strong gains.

At midday, the Hang Seng Index and the China Enterprises Index of the top Chinese listings in Hong Kong both were down 0.6 percent. The Hang Seng was at 23,161.43 points.

The CSI300 of the leading Shanghai and Shenzhen A-share listings shed 1.2 percent, while the Shanghai Composite Index was off 0.9 percent at 2,019.22 points.

Mark To, head of research at Wing Fung Financial Group, said the improving Chinese economy is helping boost sentiment about the Hong Kong market.   Continuación...