Hong Kong shares give up gains on profit-taking
Aug 28 (Reuters) - Hong Kong stocks changed course Friday afternoon and lost 1 percent on Friday, as a rebound on Thursday and in morning trade prompted profit-taking.
The Hang Seng index fell 1.04 percent, to 21,612.39, while the China Enterprises Index lost 1.1 percent, to 9,750.73 points. The index lost 3.6 percent for the week, its sixth consecutive weekly fall.
At the midday break, the Hang Seng had been up 0.5 percent, helped by Wall Street's solid gains overnight, but a wave of selling in late afternoon knocked down the index.
"Investor confidence remains shaky," said Dominic Chan, analyst at GF Securities in Hong Kong.
"Some took profit as they think the rally is not sustainable."
Among the most actively traded stocks on Hong Kong's main board were Ngaishun Hold, up 36.7 percent to HK$0.04 North Mining, up 11.2 percent to HK$0.10 and CCT Land , unchanged at HK$0.02.
Total trading volume of companies included in the HSI index was 3.1 billion shares. (Reported by Samuel Shen and Pete Sweeney; Editing by Richard Borsuk)
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