Hong Kong shares down, Hang Seng dip 0.3pc

HONG KONG: Hong Kong shares closed down on Thursday and Hang Seng Index lowered 0.3 percent at 23,333.18 points.

The China Enterprises Index of the leading offshore Chinese listings in Hong Kong stayed broadly flat throughout the day and finished up 0.1 percent.

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Analysts said faster expansion in Chinese factory activity in a private survey limited selling in Hong Kong. The flash HSBC/Markit manufacturing purchasing manager’s index (PMI) edged up to a three-month high of 50.4 from a final reading of 50.2 in September.

Telecoms were the biggest losers ahead of earnings but railways helped offset the market’s overall weakness.

China CNR Corp Ltd said it had been awarded a subway contract from Massachusetts. China CNR Corp Ltd jumped 3.2 percent, and CSR Corp Ltd climbed 1.5 percent.