HK, China shares end strong Jan. weakly
ReutersHONG KONG--Hong Kong shares slipped from a 21-month high on Thursday, trimming monthly gains, as investors turned cautious following a batch of profit warnings and knocked the Hang Seng Index off its most overbought levels in almost a month.
February 1, 2013, 1:01 am TWN
The Hang Seng Index shed 0.4 percent from Wednesday's 21-month closing high to end at 23,729.5 points, leaving the benchmark with a gain of 4.7 percent for the month of January.
The HSI has now risen for five straight months, equaling a winning streak between March and July in 2009 and the longest since an eight-month string between March and October 2007.
Onshore Chinese benchmark indexes had a tepid January finish, as investors rotated into shares of power producers and out of the property sector ahead of the release of China's January official purchasing managers' index on Friday.
The CSI300 of the top Shanghai and Shenzhen A-share listings slipped 0.1 percent on the day, but jumped 6.5 percent on the month. The Shanghai Composite Index ended up 0.1 percent on Thursday and 5.1 percent in January.
The China Enterprises Index of the top Chinese stocks in Hong Kong slid 0.3 percent on the day, but climbed 6.1 percent this month. Losses in Hong Kong came in the third-worst turnover this month. Shanghai volumes stayed fairly robust.