Hong Kong shares close down, hurt by fund flows to China
HONG KONG Dec 3 (Reuters) - Hong Kong shares reversed earlier gains and finished down on Wednesday as money flowed into the bullish mainland markets, analysts said.
Share prices in Hong Kong have lagged those in China since the launch of the cross border trading scheme between the two cities and as investors await further price consolidation.
Analysts said the latest update from the Occupy Central protest movement had limited impact on investor sentiment. The founders of the movement urged the protesters to go home on Tuesday amid fears of violence.
The Hang Seng index fell 1.0 percent, to 23,428.62 points, while the China Enterprises Index lost 0.6 percent, to 11,060.21 points.
Among the most actively traded stocks on Hong Kong's main board were CCT Land Holdings, down 5.9 percent at HK$0.02, Bank Of China, down 1.0 percent at HK$4.03 and ICBC, down 0.2 percent at HK$5.22.
Chinese investment flowing from Shanghai into Hong Kong through the mutual market access pilot programme took up 0.46 billion yuan ($74.83 million) of the 10.5 billion yuan daily quota.
Total trading volume of companies included in the HSI index was 3.2 billion shares.
($1 = 6.1471 Chinese yuan) (Reporting by Shanghai Newsroom; Editing by Jacqueline Wong)
© Thomson Reuters 2017 All rights reserved.