By V. Phani Kumar
HONG KONG (MarketWatch) -- Hong Kong shares slipped in early trading Friday after a weak finish on Wall Street, with local property developers losing ground on profit-taking pressure in the wake of strong recent gains. The Hang Seng Index (HK:HSI 22,146, +98.75, +0.45%) shed 0.1% to 22,022.31 after the benchmark advanced in nine of the previous 10 sessions, while the Hang Seng China Enterprises Index slipped 0.2% to 12,174.35. Shares of Sino Land Co. (HK:83 15.40, -0.26, -1.66%) (SNLAY 10.06, +0.64, +6.79%) dropped 2% and Sun Hung Kai Properties Ltd. (HK:16 127.70, +2.50, +2.00%) (SUHJY 16.07, +0.10, +0.63%) shed 0.6%, snapping out of their recent winning run. China Unicom Hong Kong Ltd. (HK:762 11.60, -0.16, -1.36%) (CHU 14.92, -0.21, -1.39%) shed 1.9%, extending losses from Wednesday when it fell 3.3% on a brokerage downgrade. Mainland Chinese markets remained shut for a holiday.
