China shares fall on weakness in financial firms, Hong Kong dragged by casinos

martes 8 de julio de 2014 00:59 GYT

* HSI -0.1 pct, H-shares flat, CSI300 -0.1 pct

* First drop seen among China's hot IPOs

* Datang Power at 7-month high on coal-chemical business deal (Updates to midday)

By Grace Li

HONG KONG, July 8 (Reuters) - China shares slipped by midday on Tuesday on weakness in financial firms, but pared losses after some property developers rebounded.

Hong Kong shares also edged lower, with the Macau gaming sector extending losses as revenue remained sluggish during the first week of July.

By midday, the Hang Seng Index dipped 0.1 percent to 23,509.77 points. The China Enterprises Index of the top Chinese listings in Hong Kong was flat.

The CSI300 of the leading Shanghai and Shenzhen A-share listings inched down 0.1 percent, while the Shanghai Composite Index was off 0.2 percent at 2,056.84 points.

"More initial public offerings (IPOs) will come up later in July, and the upcoming economic data could hardly exceed expectations, so such a small correction is normal," said Wang Weijun, an analyst at Zheshang Securities in Shanghai, who added upbeat data no longer has a big positive effect on the market.   Continuación...