By V. Phani Kumar
HONG KONG (MarketWatch) -- Hong Kong shares moved in a range around break-even early Friday, with mainland Chinese banks broadly weak on concerns about monetary tightening by China. But commodity stocks traded generally higher despite a slip in some resource prices. The Hang Seng Index fell 0.1% to 21,306.34, and the Hang Seng China Enterprises Index lost 0.2% to 12,190.94, after opening higher. Industrial and Commercial Bank of China (CN:601398 4.84, -0.02, -0.41%) (HK:1398 5.88, -0.02, -0.34%) (IDCBF 0.77, +0.03, +4.05%) and China Merchants Bank Co. (CIHKF 2.10, +0.13, +6.60%) (HK:3968 19.48, -0.18, -0.92%) (CN:600036 15.44, -0.07, -0.45%) shed 0.5% each, though Bank of Communications Co. (CN:601328 8.08, +0.02, +0.25%) (HK:3328 8.80, +0.01, +0.11%) (BKFCF 1.05, +0.15, +16.67%) rose 0.1%, aided by a Citigroup upgrade to buy. China Overseas Land & Investment Ltd. (HK:688 16.92, +0.02, +0.12%) (CAOV.Y 65.33, -1.08, -1.62%) fell 1.4%, despite reporting strong growth in 2009 profit, as investors worried about this year's prospects. China's Shanghai Composite was flat at 3,046.53.
