Hong Kong: Shares fall, hurt by the mainland's stock slide
[HONGKONG] Hong Kong shares fell on Monday, bucking the trend in Asia markets, with sentiment hurt by a slump in mainland stocks that was triggered by liquidity concerns.
The Hang Seng index fell 0.4 per cent, to 28,336.19, while the China Enterprises Index lost 0.7 per cent, to 11,563.38 points.
Increasing cross-border flows have made Hong Kong more vulnerable to swings in China markets. On Monday, Shanghai's benchmark index posted its biggest one-day slide in 11 weeks as Chinese bond yields surged.
The mood was not helped by an expected slowdown in China's manufacturing sector, where activity likely grew at a slightly slower pace in October due to Beijing's major anti-pollution campaign, according to a Reuters poll.
The raw material subindex slumped more than 2 per cent, offsetting a jump in energy shares triggered by firm oil prices.
The financial sector dipped, but HSBC's Hong Kong listed shares rose slightly, after the British lender reported a five-fold jump in quarterly profits.
REUTERS
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