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Hong Kong shares close down 0.2 pct, Apple suppliers hit

Source : REUTERS
Last Updated: Thu, Jan 24, 2013 08:10 hrs

HONG KONG, Jan 24 (Reuters) - Hong Kong shares slipped for a second-straight day on Thursday, falling further away from chart resistance that had stymied gains for about a week, with Apple Inc's suppliers hit after the tech giant reported underwhelming quarterly revenue.

The Hang Seng Index closed down 0.2 percent at 23,598.9, slipping further from resistance at about 23,708, the high of May 31, 2011. The China Enterprises Index of the top Chinese listings in Hong Kong shed 0.6 percent.

The CSI300 of the top Shanghai and Shenzhen listings closed down 1 percent, reversing gains of as much as 2 percent in early trade. The Shanghai Composite Index shed 0.8 percent as bourse volume hit the highest since Jan 15.

HIGHLIGHTS:

* Shares of Apple Inc's suppliers were hit after Apple missed revenue expectations for a third straight quarter as sales of its flagship iPhone came in below Wall Street's expectations. AAC Technologies tumbled 6 percent.

* China Mobile slid 2.2 percent to a two-month low after JP Morgan analysts downgraded its rating on the stock from "neutral" to "underweight," expecting the country's largest mobile operator to post its first negative year-on-year earnings change for 2013.




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