MW: Hong Kong stocks decline as China banks retreat
By V. Phani Kumar
HONG KONG (MarketWatch) -- Hong Kong shares declined early Wednesday as Chinese banks retreated after posting strong gains in the closing minutes of trade in the previous session. The Hang Seng Index fell 1% to 21,459.43 and the Hang Seng China Enterprises Index gave up 1.5% to 12,410.46. Shares of Bank of China Ltd. (HK:3988 3.97, -0.12, -2.93%) (BACH.Y 13.40, +0.55, +4.28%) slid 2% and Bank of Communications Ltd. (HK:3328 8.80, -0.17, -1.90%) shed 2.1%. Mainland China traded shares also declined amid concerns about policy tightening measures to restrict bank lending, with the Shanghai Composite dropping 0.9% to 3,216.67.
