BEIJING: China’s benchmark indexes fell early Wednesday, as financial stocks were broadly down in what traders said was mostly a technical correction after the past week’s solid performance.
“Investors took profits after the rally in securities shares,” said Guo Yanling, an analyst at Shanghai Securities in Shanghai.
In Hong Kong, strong third quarter results helped social network and mobile technology firm Tencent Holdings offset falls of other counters, leaving the Hang Seng Index unchanged at 22,397.04 points.
The CSI300 index fell 0.7 percent, to 3,805.49 points at the end of the morning session, and the Shanghai Composite Index lost 0.4 percent, to 3,625.12 points.
China CSI300 stock index futures for November fell 0.4 percent, to 3,762.6, or 42.89 points below the current value of the underlying index.
In Hong Kong, Tencent was up 2.2 percent. On Tuesday evening, it released third quarter results that beat expectations.
The Hong Kong China Enterprises Index lost 0.8 percent, to 10,236.46.
The index measuring price differences between dual-listed companies in Shanghai and Hong Kong stood at 140.43.
A value above 100 indicates Shanghai shares are pricing at a premium to shares in the same company trading in Hong Kong, and vice versa.
Total volume of A shares traded in Shanghai was 19.12 billion shares, while Shenzhen volume was 20.95 billion shares.
Total trading volume of companies included in the HSI index was 0.6 billion shares.
