China, Hong Kong shares fall on profit-taking, weak business activity

miércoles 5 de noviembre de 2014 01:00 GYT
 

* HSI -0.5 pct, H-shares -0.9 pct, CSI300 -0.4 pct

* Mainland index faces profit-taking pressure

* Power stocks strong on ultra-high voltage power project plan

* Hong Kong PMI falls to 47.7 in Oct from 49.8 in Sept

By Chen Yixin and Adam Jourdan

SHANGHAI, Nov 5 (Reuters) - China shares fell on Wednesday due to profit-taking, but energy-related shares limited falls after the country's power authority said work had started on an ultra-high voltage power project.

The Shanghai Composite Index was down 0.5 percent at 2,418.8 points by the midday break, while the CSI300 of the leading Shanghai and Shenzhen A-share listings eased 0.4 percent.

"The index is adjusting, it faces profit-taking pressures," said Wang Weijun, analyst at Zheshang Securities in Shanghai, adding the index was expected to hover around recent levels as investors take a wait-and-see attitude on blue chip shares.

"For now, the most important support for the index are blue chip shares, but we still need time to see the shares' potential," he said.   Continuación...