MW: Hong Kong shares turn mixed, with property weak
By Michael Kitchen
LOS ANGELES (MarketWatch) -- Hong Kong stocks reversed opening gains to trade mixed Wednesday morning, with property shares and some airlines trading lower. After a brief rise inspired by the overnight rally on Wall Street, Hong Kong's benchmark Hang Seng Index slipped 0.1% to 19,777.2, but the Hang Seng China Enterprises Index remained in the green, up 0.2% at 11,224.4. Decliners included real-estate firms Henderson Land Development Co. (HK:12 46.95, -0.55, -1.16%) (HLDVF 6.05, +0.20, +3.42%) and Sino Land Co. (HK:83 12.90, -0.20, -1.53%) (SNLAF 1.61, +0.00, +0.17%) each losing 1.5%. Hong Kong flag carrier Cathay Pacific Airways Ltd. (HK:293 13.14, -0.32, -2.38%) (CPCAF 1.65, -0.07, -4.07%) fell 2.4%, and mainland-based giant Air China Ltd. (HK:753 6.54, -0.10, -1.51%) (AICAF 0.80, -0.08, -8.57%) lost 1.1%, though its Shanghai-listed shares (CN:601111 11.00, +0.24, +2.23%) rose 2.5% and some smaller regional carriers posted mild gains on both bourses. The pullback in shares came despite a 0.5% gain in the Shanghai Composite, which traded at 2,962.6.
