China, Hong Kong shares slip on worries over economic outlook

lunes 13 de octubre de 2014 00:58 GYT

* HSI -0.6 pct, H-shares -1 pct, CSI300 -1 pct

* Fed's Tarullo says downside risks to global economy

* IPOs weigh on mainland market

By Chen Yixin and Kazunori Takada

SHANGHAI, Oct 13 (Reuters) - China and Hong Kong shares dropped on Monday, taking their cues from weakness in global markets as concerns mount over the health of major economies.

By midday, the Shanghai Composite Index declined 1 percent to 2,351.39 points, set for the biggest percentage fall since Sept. 22, while the CSI300 of the leading Shanghai and Shenzhen A-share listings also dropped 1 percent.

The Hang Seng Index dropped 0.6 percent to 22,940.82 points. The China Enterprises Index of the top Chinese listings in Hong Kong fell 1 percent.

Analysts said the drop in Hong Kong was due to weakness in overseas markets but further declines were likely to be limited as investors await upcoming Chinese economic data over the next two weeks.

"Investors are not too bullish or bearish at this moment," said Alex Wong, a director at Ample Finance Group in Hong Kong. "They are cautious and taking a wait-and-see attitude."   Continuación...