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Hong Kong shares slip despite a rebound by casinos

Source : REUTERS
Last Updated: Mon, Jul 21, 2014 14:00 hrs

HONG KONG, July 21 (Reuters) - Hong Kong shares sagged on Monday, though the Macau gambling sector regained momentum following losses last week stemming from a corruption probe and disappointing earnings.

The Hang Seng Index closed down 0.3 percent at 23,387.14 points. The China Enterprises Index of the leading offshore Chinese listings in Hong Kong fell for a fourth straight day, dropping 0.8 percent.

Galaxy Entertainment Group and Sands China were the standout winners on the Hang Seng, up 3.1 and 2.3 percent respectively.

But gains were not enough to offset losses in a few index heavyweights. Tencent Holdings declined 1.1 percent and China Petroleum & Chemical Corp by 1.4 percent.

Carmakers, which recently outperformed the market, led losses among H-shares. Dongfeng Motor Group, which hit a more than two-year high last Thursday, sank 5.1 percent. Great Wall Motor shed 2.8 percent. (Reporting by Grace Li; Editing by Richard Borsuk)




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