HONG KONG Jan 16 Hong Kong shares started
what could prove to be a volatile week lower on Monday, with
losses capped at chart support levels as investors took profit
on last week's outperformers ahead of more economic data from
China expected on Tuesday.
The Hang Seng Index finished down 1 percent at
19,012.2. The China Enterprises Index of top mainland
listings in Hong Kong finished down 1.39 percent at 10,489.59.
The Shanghai Composite Index tumbled for a fourth
straight session, closing down 1.7 percent at 2,206.19, halving
gains last week in A-share turnover that declined 35 percent
* Turnover in Hong Kong fell about 27 percent from Friday,
with the Hang Seng Index trading in a narrow 85-point range and
supported at about 19,000. Market watchers said interest could
remain at similarly low levels this week ahead of a Lunar New
Year holiday next week.
* Chinese oil majors, which were key drivers of the strong
start to the year, were among the top drags on the Hang Seng
Index. CNOOC Ltd lost 1.6 percent, China Petroleum &
Chemical Corp (Sinopec) slipped 2.5 percent while
PetroChina Co Ltd declined 0.9 percent.
* Warren Buffett-backed Chinese automaker BYD Co Ltd
rose for a sixth-straight session, jumping 4.8 percent
to the highest since Aug. 15 in volume more than three times its
30-day average. Investors were pouring back into the stock in
anticipation that it could benefit from a new policy supporting
production of environmentally-friendly cars, analysts said.
* China is expected to post fourth-quarter GDP growth of 8.7
percent on Tuesday, according to a Reuters poll. Beijing will
also release December industrial output, investment and retail
sales figures, which could spur market gains.
(Reporting by Clement Tan; Editing by Chris Lewis)