By V. Phani Kumar
HONG KONG (MarketWatch) -- Hong Kong shares were unsettled and seeking direction early Wednesday, with Chinese property developers and banks still under pressure on concerns Beijing may act to cool property prices, while energy stocks rose after an increase in crude-oil prices. The Hang Seng Index slipped 0.1% to 21,792.12 after opening higher, while the Hang Seng China Enterprises Index dropped 0.2% to 12,836.51. Shares of Guangzhou R&F Properties Co. Ltd. (GZUH.Y 36.68, -1.35, -3.55%) lost 1% and Bank of China Ltd. (HK:3988 4.09, -0.07, -1.68%) (BACH.Y 13.70, -0.20, -1.44%) fell 1.2%, while Cnooc Ltd. (HK:883 12.02, -0.10, -0.83%) (CEO 156.34, +0.38, +0.25%) rose 0.7%. China's Shanghai Composite was up 0.5% after moving in both directions in early trade.
