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Hong Kong: Shares hit by profit-taking, China worries, energy shares slump
[HONG KONG] Hong Kong stocks fell on Thursday, led by energy shares, as investors took profits after the benchmark Hang Seng Index rebounded 8 per cent over the past week.
The Hang Seng index ended down 0.7 per cent at 22,354.91 points, while the China Enterprises Index lost 1.0 per cent to 10,287.41.
Investors sold Hong Kong stocks despite strong gains in mainland China markets as they reopened after a week-long holiday, reflecting lingering concerns about China's slowing economy ahead of a flurry of economic data and company earnings reports in coming weeks.
Almost all major sectors in Hong Kong fell, with energy shares the hardest hit after bouncing sharply over the past few sessions on a rebound in global oil prices.
Oil giants Sinopec and PetroChina both lost over 1 per cent, while CNOOC plunged 5.5 per cent.