Tech sector drags on Hong Kong stocks, H-shares outperform

viernes 4 de abril de 2014 01:10 GYT
 

* HSI -0.3 pct, H-shares +0.2 pct, CSI300 +0.5 pct

* Tencent down 19 percent since March 3 peak

* CSI300 property sub-index stabilises

By Natalie Thomas and Chen Yixin

SHANGHAI, April 4 (Reuters) - Hong Kong shares were mixed on Friday, with gains in Chinese shares listed in the city overshadowed by tech losses and weighed by a sharp fall in Internet giant Tencent Holdings.

Mainland shares were up slightly by midday, but uncertainties over first quarter earnings results and concerns over the resumption of initial public offerings (IPO) left investors cautious.

By midday, the Hang Seng Index was down 0.3 percent at 22,507.58 points. The China Enterprises Index of the top Chinese listings in Hong Kong gained 0.2 percent.

The CSI300 index of the largest Shanghai and Shenzhen A-share listings was up 0.5 percent, while the Shanghai Composite Index was up 0.4 percent at 2,050.10 points.

Shares in index heavyweight Tencent fell 4.6 percent by the midday break as the stock followed U.S. listed counterparts, including Facebook Inc and SINA Corp into negative territory, on growing concerns that the sector as a whole is over-valued. Tencent was down as much as 6.3 percent in morning trade.   Continuación...