China shares fall on weaker banks, Hong Kong lackluster

miércoles 25 de junio de 2014 01:03 GYT
 

* HSI +0.1 pct, H-shares -0.4 pct, CSI300 -0.6 pct

* China financials down as PBOC says to strengthen regulation

* China Vanke H-shares dip below opening price in HK debut (Updates to midday)

By Grace Li

HONG KONG, June 25 (Reuters) - China shares fell in early trade on Wednesday, weighed down by underperforming financial institutions, while the benchmark index in Hong Kong eked out slim gains.

By midday, the Hang Seng Index inched 0.1 percent higher to 22,905.11 points. The China Enterprises Index of the top Chinese listings in Hong Kong fell 0.4 percent.

The CSI300 of the leading Shanghai and Shenzhen A-share listings slipped 0.6 percent. The Shanghai Composite Index was down 0.5 percent at 2,023.65 points, its lowest since May 22.

"The resumption of initial public offerings (IPOs) is still an important factor in diverting funds from the market, especially at the quarter-end when liquidity is not very sufficient," said Zhang Yanbin, analyst at Zheshang Securities in Shanghai.

"But the correction on the SSEC is going to be very limited. There should be a strong support at the 2,000-point level," Zhang added.   Continuación...