SHANGHAI, Nov 4 (Reuters) - Hong Kong shares ended mixed in a volatile session on Tuesday, with Chinese listings in the territory gaining on optimism over planned reforms of state-owned enterprises (SOEs).
The Hang Seng Index unofficially closed down 0.3 percent at 23,845.66 points, while the China Enterprises Index of the leading offshore Chinese listings in Hong Kong rose 0.6 percent.
Analysts said investors were focusing attention on undervalued Chinese listings rather than specific sectors on the Hong Kong market, which could benefit as confidence rises over Beijing’s policies towards future reform of state-run firms.
Chinese banks led gains with Bank of Communications rising 1 percent and China Construction Bank climbing 0.4 percent.
But HSBC Holdings PLC fell 0.5 percent as its third quarter earnings fell short of expectations after the bank set aside $1.8 billion for misconduct settlements and compensation for customers, including a potential fine for rigging currency markets.
Reporting by Shanghai Newsroom; Editing by Jacqueline Wong