August 3, 2017 / 8:34 AM / a year ago

Hong Kong stocks slip, weighed down by financial, energy shares

Aug 3 (Reuters) - Hong Kong stocks followed other Asian markets lower on Thursday, as investors paused for breath after recent strong gains in financial and resources firms.

The Hang Seng index fell 0.3 percent, to 27,531.01 points, while the China Enterprises Index lost 0.5 percent, to 11,002.20 points.

The financial and information technology sectors led the decline, while gains were seen in material and telecommunications shares.

China Unicom Hong Kong gained 2.3 percent as Beijing seeks to revitalize state-owned firms through changes to their management structure.

China Shenhua, the largest coal producer, slid 1.5 percent, and was the biggest drag on the energy sector.

New China Life Insurance, one of China’s leading life insurance operators, dropped 3.3 percent, sending the financial sector lower.

China Shenhua and New China Life are dual-listed in Shanghai and Hong Kong.

The index measuring price differences between dual-listed companies in Shanghai and Hong Kong stood at 127.09. It widened to 129.04 last month, its widest since August 2016.

A value above 100 indicates Shanghai shares are pricing at a premium to shares in the same company trading in Hong Kong, and vice versa. (Reporting by the Shanghai Newsroom; Editing by Lisa Twaronite and Richard Borsuk)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below