Hong Kong, China shares fall as profits taken on blue-chips

miércoles 6 de agosto de 2014 00:56 GYT

* HSI -0.6 pct, H-shares -0.8 pct, CSI300 -0.6 pct

* Chinese solar companies strong on report of policy support

* HKEx drops ahead of H1 results (Updates to midday)

By Grace Li

HONG KONG, Aug 6 (Reuters) - Hong Kong and China shares dropped on Wednesday with investors taking profits on recently-strong Chinese blue-chip stocks and keeping an eye on declines in U.S. markets.

The Hang Seng Index, which has risen 10 out of 11 previous sessions, was down 0.6 percent to 24,497.88 points at midday. The China Enterprises Index of the top Chinese listings in Hong Kong fell 0.8 percent to a two-week low.

The CSI300 of the leading Shanghai and Shenzhen A-share listings was off 0.6 percent, while the Shanghai Composite Index edged down 0.5 percent to 2,209.79 points.

On mainland markets, the second day of decline is "a normal market correction after recent heavy gains, while there is no major negative news on the horizon," said Zheng Weigang, a senior trader at Shanghai Securities.

"The correction is not likely to divert the recent uptrend of the mainland's stock markets," he said. "Investors will continue to buy A-shares in large caps, whose prices lag their Hong Kong counterparts. The Shanghai market's rally should last at least until late September because of the Shanghai-Hong Kong connector."   Continuación...