Hong Kong shares fall with Tencent a big drag, China slips
* HSI -1.2 pct, H-shares -1.1 pct, CSI300 -0.5 pct
* Tencent has biggest fall in over a month after U.S. tech shares fall
* Chinese banks weaker despite Temasek comment
* Luye Pharma jumps on HK debut (Updates to midday)
By Grace Li
HONG KONG, July 9 (Reuters) - Hong Kong shares fell on Wednesday after U.S. stocks skidded, with Internet giant Tencent the biggest drag, while Chinese markets were knocked off three-week highs as banks fell.
China's consumer price inflation cooled slightly more than expected in June, pointing to lingering weakness in the economy, which could prompt Beijing to launch further stimulus measures to shore up growth.
By midday the Hang Seng Index had fallen 1.2 percent to 23,248.43, after ending the previous four sessions with movements of less than 0.1 percent. The China Enterprises Index of the top Chinese listings in Hong Kong fell 1.1 percent.
The CSI300 of the leading Shanghai and Shenzhen A-share listings was off 0.5 percent, while the Shanghai Composite Index was down 0.4 percent at 2,056.89. Both closed at their highest since mid-June on Tuesday. Continuación...