Hong Kong shares fall to 2-mth low on economy worries, China hit by IPO wave

lunes 22 de septiembre de 2014 00:53 GYT
 

* HSI -1.3 pct, H-shares -1.8 pct, CSI300 -1.7 pct

* 12 IPOs expected to lock up 600 billion yuan

* Agile Property plunges after rights issue plan

* Prada at more than 2-year low on H1 profit drop (Updates to midday)

By Grace Li

HONG KONG, Sept 22 (Reuters) - Hong Kong shares slumped to two-month lows on Monday, as investors fretted that a preliminary factory survey on Tuesday could provide more evidence of a slowdown in China.

China shares suffered a further blow with 12 initial public offerings (IPOs) starting to take subscriptions this week. That is expected to lock up 600 billion yuan ($97.75 billion) in funds, according to a National Business Daily report, aggravating quarter-end liquidity pressures.

At midday, the Hang Seng Index was off 1.3 percent at 23,983.82 points, lowest since July 23. The China Enterprises Index of the top Chinese listings in Hong Kong slid 1.8 percent to its lowest since July 22.

The CSI300 of the leading Shanghai and Shenzhen A-share listings fell 1.7 percent, while the Shanghai Composite Index was down 1.5 percent at 2,294.91 points.   Continuación...