* SSEC 0.7 pct, CSI300 0.9 pct, HSI -0.3 pct
* Casino shares slump on reports saying Macau cash
* China releases highest PPI in 5 years
* Mainland blue-chips on track to snap 8-week winning streak
SHANGHAI, Dec 9 Hong Kong stocks slipped on
Friday morning, despite overnight strength in U.S. and European
stocks, with sentiment soured by a slump in casino shares after
reports Macau had put a limit on ATM cash withdrawals.
The benchmark Hang Seng index dropped 0.3 percent, to
22,797.94 points, while the Hong Kong China Enterprises Index
gained 0.1 percent, to 9,909.78 points.
But the market had gained roughly 1 percent so far this
week, partly encouraged by Wall street, where the main indexes
have repeatedly set records.
Steven Leung, director at UOB Kay Hian in Hong Kong, said
Friday's sentiment was dampened by reports of Macau's supposed
curbs on cash withdrawal.
Shares of casino operators including Sands China Ltd
, Wynn Macau and MGM China tumbled
after a report that Macau was preparing to halve the amount of
cash China UnionPay card holders can withdraw from ATM machines.
The shares clawed back some of their losses after China
UnionPay dismissed cash-curb reports.
Hong Kong's small-caps and tech shares were also a drag, as
the Shenzhen-Hong Kong Stock Connect, launched on Monday, has so
far channelled a just a trickle of money from mainland
In China, stocks reversed initial losses and ended morning
trade in positive territory after news of inflation rising in
November. It came on the heels of Thursday's encouraging trade
figures, with both indicators taken as evidence of a stabilising
But the blue-chip index was poised to break an eight-week
winning streak, after regulators moved this week to restrict
insurers' aggressive share acquisitions.
The blue-ship CSI300 index rose 0.9 percent, to
3,500.13 points at the end of the morning session, while the
Shanghai Composite Index gained 0.7 percent, to 3,237.58
China's producer prices rose the fastest in more than five
years in November, up 3.3 percent, as the prices of coal, steel
and building materials climbed, boosting industrial profits.
China's consumer inflation rate rose to 2.3 percent from a
year earlier, the fastest pace since April this year.
Most sectors in the mainland rose, with banks
leading the gains.
(Reporting by Jackie Cai and John Ruwitch; Editing by Eric