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Hong Kong shares snap 5-day winning streak on weak China markets

Source : REUTERS
Last Updated: Mon, Oct 08, 2012 08:10 hrs

HONG KONG, Oct 8 (Reuters) - Hong Kong shares snapped a five-session streak of gains as concerns about China's slowdown returned to the fore after Chinese markets reopened after a week-long holiday.

The Hang Seng Index fell 0.9 percent to 20,824.56 points. The index of top locally listed Chinese shares fell 1.3 percent and was the weakest among regional benchmarks in Asia.

On the mainland, the CSI300 fell 1 percent while the Shanghai Composite dropped 0.6 percent as investors returned to the market after the Mid-Autumn Festival and National Day holidays.

HIGHLIGHTS:

* ZTE Corp fell 6 percent, the top loser on the China Enterprises Index, after a draft report by the U.S. Congress said China's top telecommunications gear makers should be shut out of the U.S. market because they pose a security threat.

* Chinese shares in Hong Kong led losses with China Mobile down 1.4 percent while Tencent Holdings slipped 1.3 percent, pulling away further from a record high hit last week. (Reporting by Vikram Subhedar; Editing by Sanjeev Miglani)



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