By V. Phani Kumar
HONG KONG (MarketWatch) -- Hong Kong shares declined early Friday as investors locked in gains after the market rose for seven straight sessions, with metal and energy producers knocked back on a fall in commodity prices. The Hang Seng Index (HK:HANGSENG 23,807, +20.99, +0.09%) fell 0.3% to 23,710.94, and the Hang Seng China Enterprises Index slid 0.4% to 12,925.80. Cnooc Ltd. (HK:883 18.52, -0.32, -1.70%) (CEO 239.00, -1.53, -0.64%) fell 1.6%, and PetroChina Co. (HK:857 10.18, -0.08, -0.78%) (PTR 131.04, -1.69, -1.27%) lost 1.4%, while gold miner Zhaojin Mining Industry Co. (HK:1818 31.35, -0.90, -2.79%) (ZHAOF 4.00, -0.15, -3.61%) slid 1.6%. Property shares also came under profit-taking pressure, with Cheung Kong Holdings Ltd. (HK:1 130.20, -1.30, -0.99%) (CHEUY 16.70, -0.10, -0.60%) slipping 0.6%, and China Resources Land Ltd. (HK:1109 15.38, +0.20, +1.32%) (CRBJY 0.00, 0.00, 0.00%) dropping 1.2%. A drop on mainland bourses didn't provide support, as the Shanghai Composite (CN:SHCOMP 2,830, +5.86, +0.21%) shed 0.4% to 2,812.36. |
