Hong Kong shares slide 0.6 percent in 3rd daily loss

HONG KONG Wed Nov 28, 2012 8:08am GMT

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HONG KONG Nov 28 (Reuters) - Hong Kong shares fell for a third-straight day on Wednesday, led by Chinese growth-sensitive sectors on a sluggish mainland market and a lack of progress in U.S. budget talks, reigniting fears about a fiscal crisis in the world's largest economy.

The Hang Seng Index closed down 0.6 percent at 21,709 points. The China Enterprises Index of the top Chinese listings in Hong Kong ended down 1.2 percent at 10,399.2.

The CSI300 Index of the top Shanghai and Shenzhen listings slid 1.0 percent. The Shanghai Composite Index retreated 0.9 percent, sinking further from the 2,000-point level it closed below on Tuesday for the first time since January 2009.

HIGHLIGHTS:

* Chinese oil majors were among the top drags as oil prices declined. CNOOC Ltd closed down 1.7 percent at its lowest in more than a week after the state-owned company and its Canadian takeover target Nexen Inc withdrew and resubmitted their application for U.S. approval of their $15.1 billion deal.

* The China banking sector was also broadly weaker and among the top drags on the Hang Seng Index. Industrial and Commercial Bank of China (ICBC) shed 1.3 percent, while China Construction Bank (CCB) slid 1.7 percent.

* Great Wall Motor rose 1.2 percent in strong volumes, leading most Chinese automaker shares higher after state news agency Xinhua reported automobile sales and output will both exceed 19 million units this year, a jump from last year's 14.5 million.

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