China shares fall as IPO subscriptions start, weighing on Hong Kong

jueves 28 de agosto de 2014 00:59 GYT
 

* HSI +0.1 pct, H-shares -0.2 pct, CSI300 -0.5 pct

* Coal firms rise on report about govt support

* Guanghui Energy soars 10 pct on crude import licence

* Country Garden sinks after rights issue plan (Updates to midday)

By Grace Li

HONG KONG, Aug 28 (Reuters) - China shares edged down in choppy morning trade on Thursday as a batch of initial public offerings (IPOs) began taking subscriptions, diverting money from existing stocks.

Weakness in the mainland market pared gains in Hong Kong, which had opened up 0.6 percent following another steady performance by Wall Street, where indexes hovered near record highs.

By midday, the CSI300 of the leading Shanghai and Shenzhen A-share listings fell 0.5 percent to a four-week low, while the Shanghai Composite Index slipped 0.4 percent at 2,201.37 points.

The Hang Seng Index was 0.1 percent higher at 24,939.27 points. The China Enterprises Index of the top Chinese listings in Hong Kong was off 0.2 percent.   Continuación...