Hong Kong shares in 4th day of losses, financials down

jueves 20 de noviembre de 2014 04:12 GYT
 

SHANGHAI Nov 20 (Reuters) - Hong Kong shares posted a fourth day of losses on Thursday since the launch of the landmark Shanghai-Hong Kong stock connector scheme.

The Hang Seng Index unofficially closed down 0.1 percent at 23,349.64 points. The Hong Kong China Enterprises Index ended flat at 10,379.43 points.

On Thursday, mainland investors took up less than 2 percent of the daily southbound quota of 10.5 billion yuan ($1.71 billion).

Analysts said the Hang Seng Index was below the 50-day average and approaching the 250-day average, amid bearish sell-off pressure in the market.

Top losers were financials, which dragged down the index. Oil companies had a technical rebound from sharp drops on Wednesday.

Timber company Superb Summit halted trading after shedding 5.8 percent as investment research firm Muddy Waters said it was shorting the shares due to concerns about the veracity of its accounts.

($1 = 6.1236 Chinese yuan) (Reporting by Shanghai Newsroom; Editing by Jacqueline Wong)