By V. Phani Kumar
HONG KONG (MarketWatch) -- Hong Kong shares were confined to a range early Monday as gains in property developers were countered by losses in Chinese banks, which broadly fell on caution ahead of a string of holidays on the mainland this week. The Hang Seng Index (HK:HSI 21,993, +22.39, +0.10%) slipped 0.1% to 21,951.55 and the Hang Seng China Enterprises Index rose 0.1% to 12,184.91. Bank of China Ltd. (BACHY 13.03, +0.13, +1.01%) (HK:3988 4.08, 0.00, 0.00%) fell 0.3% and China Construction Bank Corp. (CICHY 44.03, +0.69, +1.59%) (HK:939 6.78, -0.08, -1.17%) lost 0.7%. Cosco Pacific Ltd. (HK:1199 11.90, -0.20, -1.65%) (CTPCY 11.10, +0.05, +0.45%) lost 3.1% on profit-taking after heavy recent gains. Among gainers, China Overseas Land & Investment Ltd. (HK:688 17.72, +0.32, +1.84%) (HK:688 17.72, +0.32, +1.84%) rose 1.4% and New World Development Co. (HK:17 14.20, +0.20, +1.43%) (NDVLY 3.52, +0.12, +3.53%) added 1.4%. China's Shanghai Composite fluctuated between gains and losses ahead of holidays from Wednesday through Friday in the country, and was 0.2% higher. |
