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Hong Kong: Shares close down on China, global jitters


[HONG KONG] Hong Kong shares finished lower on Thursday weighed down by weakness in both China and overseas markets.

After rallying more than 30 per cent in just two weeks, mainland China markets have struggled this week on signs that authorities may be increasingly concerned about speculation in the market.

Sliding oil prices also continued to take a toll on shares of energy producers, while boosting fuel-sensitive stocks such as airlines.

The Hang Seng index fell 0.9 per cent, to 23,312.54 points, while the China Enterprises Index lost 1.0 per cent, to 11,255.43 points.

Among the most actively traded stocks on Hong Kong's main board were CGN Power Co Ltd., up 9.4 per cent at HK$3.62 China Jinhai International Group, up 12.7 percent at HK$0.07 and Bank Of China, down 1.4 per cent at HK$4.10.

Chinese investment flowing from Shanghai into Hong Kong through the mutual market access pilot programme took up 0.48 billion yuan of the 10.5 billion yuan (US$1.70 billion) daily quota.

Total trading volume of companies included in the the HSI index was 2.4 billion shares.