07 Sep 2017 - 11:58
Hong Kong stocks end weaker, in step with mainland markets
SHANGHAI: Hong Kong stocks reversed earlier gains to end lower on Thursday, pressured by losses in the mainland share market.
The Hang Seng index fell 0.3 percent, to 27,522.92 points, while the China Enterprises Index lost 0.3 percent, to 11,098.72 points.
Sector performance was mixed.
Information technology and energy firms fell, losing 1 percent and 0.6 percent, respectively.
Developers rose 1.1 percent, led by China Vanke , which leapt 9.6 percent to a record high.
An index tracking major material firms moved up 0.9 percent to a 27-month high, having gained 34.5 percent so far this year amid a weaker dollar and expectations that China's economic growth will remain largely robust through the year-end.
Knitwear products maker Shenzhou International Group Holdings Ltd slumped 6.8 percent in its worst day in nearly two years, as two key shareholders plan to sell shares worth HK$3.22 billion ($411.64 million) in a placement to institutional and other investors.