Hong Kong: Shares erase gains, follow mainland markets lower

[HONG KONG] Hong Kong stocks followed mainland markets lower on Wednesday, surrendering earlier gains, with infrastructure and industrial stocks leading the decline.

The Hang Seng Index fell 0.4 per cent, to 27,640.91, while the China Enterprises Index lost 0.6 per cent, to 13,997.35 points.

Bucking the trend, Chinese automaker Dongfeng Motor Group Co Ltd rose 1.1 per cent, after its state-owned parent, Dongfeng Motor Corp, appointed a new chairman amid media reports the government was preparing to merge it with peer China FAW Group Corp.

Among the most actively traded stocks on Hong Kong's main board were Landing International, up 0.6 percent to HK$0.16, CCT Land, up 50.0 per cent to HK$0.03 and Ping Shan Tea, down 2.3 per cent to HK$0.09.

Total trading volume of companies included in the HSI index was 2.3 billion shares.

REUTERS