China, Hong Kong stocks weighed down by financials, real estate

martes 27 de enero de 2015 00:24 GYT

* CSI300 -2 pct; SSEC -1.9 pct; HSI -0.8 pct

* Financials, property, energy sub-indexes plummet

* Hong Kong dragged down by mainland stocks

By Sue-Lin Wong

SHANGHAI, Jan 27 (Reuters) - Stocks in mainland China and Hong Kong fell on Tuesday, dragged down by financial and property shares on renewed concerns about the impact of the cooling Chinese economy on profits.

The slowdown in China's economic growth, which hit a 24-year low in 2014, dragged on major industrial enterprises in December, with profits falling 8 percent from a year earlier, the country's statistics bureau said on Tuesday.

The CSI300 index fell 2.0 percent, ending the morning session at 3,536.59 points, while the Shanghai Composite Index fell 1.9 percent to 3,319.67 points. Both recently hit five-year highs.

"Yesterday large caps rose, so now we're seeing profit-taking," said Tian Weidong, head of research at Kaiyuan Securities in Xi'an.

The property sub-index plunged 3.3 percent and the financial and banks indexes both plummeted 3.1 percent. The energy sub-index fell 2 percent.   Continuación...