March 7 (Reuters) - Hong Kong shares ended Monday roughly flat, ignoring a rally in mainland markets and on the back of rising selling pressure after the benchmark Hang Seng Index rose 10 percent over the past three weeks.
Hang Seng fell 0.1 percent, to 20,159.72, while the China Enterprises Index gained 0.8 percent, to 8,626.31 points.
Hong Hao, managing director of research at BOCOM International, said a Hong Kong rally could resume if appetite for risky assets picks up again.
"Hong Kong has priced in a lot of bad news. With low valuations...Hong Kong has good reasons to rebound," he wrote.
Energy shares were firm on the back of a sustained rebound in oil prices. (Reporting by Samuel Shen and Nathaniel Taplin; Editing by Sam Holmes)