Hong Kong: Shares fall on poor inflows from mainland

[SHANGHAI] Hong Kong shares fell for the third consecutive day, dragged down by disappointment that the highly-anticipated Shanghai-Hong Kong stock connect scheme was not bringing capital southbound from the mainland.

The Hang Seng Index unofficially closed down 0.7 per cent, at 23,373.31 points. The Hong Kong China Enterprises Index fell 0.4 pe rcent, to 10,380.56 points.

On Wednesday, mainland investors took up less than 3 per cent of the daily southbound quota of 10.5 billion yuan (US$1.72 billion).

Analysts said their expectations on the linkage were too high and it will take time for mainland retail investors to study rules on trading in the Hong Kong market.

China Resources Enterprise, the biggest loser among index components, plunged over 3 per cent. Other losers included oil companies, as Brent crude futures fell.

REUTERS