Hong Kong shares drift lower, Esprit slides
HONG KONG, June 14 |
HONG KONG, June 14 (Reuters) - Hong Kong shares fell on Thursday, led by losses in the retail sector and Chinese large-caps, as more weak U.S. economic data and the Greek election this weekend gave risk-averse investors little reason to make big bets.
The Hang Seng index drifted lower through the day to end near the day's lows, down 1.2 percent. The China Enterprises index fell 1.5 percent
On the mainland, the Shanghai Composite fell 1 percent while the large-cap focused CSI300 closed down 0.8 percent.
* The most actively traded stock by far was European retailer Esprit Holdings which lost another 12.4 percent in nearly 8-1/2 times its 30-day average daily traded volume. The resignation of the company's chairman a day after the chief executive quit has spooked investors who have rushed for the exit, slashing the company's market value by about a third since Tuesday. Despite the sharp drop, the shares are still trading about 25 percent above the intra-day lows seen last September. (Reporting by Vikram Subhedar; Editing by Ramya Venugopal)
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