October 30, 2017 / 8:25 AM / in a year

Hong Kong shares fall, hurt by the mainland's stock slide

Oct 30 (Reuters) - Hong Kong shares fell on Monday, bucking the trend in Asia markets, with sentiment hurt by a slump in mainland stocks that was triggered by liquidity concerns.

The Hang Seng index fell 0.4 percent, to 28,336.19, while the China Enterprises Index lost 0.7 percent, to 11,563.38 points.

Increasing cross-border flows have made Hong Kong more vulnerable to swings in China markets. On Monday, Shanghai’s benchmark index posted its biggest one-day slide in 11 weeks as Chinese bond yields surged.

The mood was not helped by an expected slowdown in China’s manufacturing sector, where activity likely grew at a slightly slower pace in October due to Beijing’s major anti-pollution campaign, according to a Reuters poll.

The raw material subindex slumped more than 2 percent, offsetting a jump in energy shares triggered by firm oil prices.

The financial sector dipped, but HSBC’s Hong Kong listed shares rose slightly, after the British lender reported a five-fold jump in quarterly profits.

Shares of BYC Co Ltd fell over 2 percent in Hong Kong, after the Chinese automaker backed by Warren Buffett’s Berkshire Hathaway Inc said on Sunday that its annual profit would likely fall by as much as one-fifth amid rising competition in the hybrid and electric car markets. (Reporting by Samuel Shen and John Ruwitch; Editing by Richard Borsuk)

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