Oct 17 Hong Kong shares drifted near 1-1/2-month
lows on Monday, as a cautious mood prevailed ahead of a slew of
China data this week that investors hope will paint a clearer
picture of how the world's second largest economy is faring.
The Hang Seng index fell 0.8 percent, to 23,037.54,
while the China Enterprises Index lost 0.6 percent, to
The recent correction in Hong Kong stocks is natural after
the market's strong rally last quarter, and as mainland money
inflows have fallen sharply this month, said Alex Wong, Hong
Kong-based director at Ample Finance Group.
"The market is looking for a direction. This week's China
economic data will be in focus," Wong said.
China's economy likely grew 6.7 percent in the third quarter
from a year earlier, the same pace as in April-June, according
to a Reuters poll of economists on GDP data to be released on
Other China economic data to be released this week include
money supply, loan growth, urban investment, industrial output
and retail sales.
All main sectors fell in Hong Kong on Monday, with telecom
and services shares leading the decline.
Shares of Macau gambling stocks, including Melco
International, Wynn Macau Ltd and Galaxy
, fell sharply on concern about their strategy for
luring Chinese gamblers after Australia's Crown Resorts Ltd
said some of its staff have been detained in the
(Reporting by the Shanghai Newsroom; Editing by Richard Borsuk)