New | Hong Kong, China stocks end down slightly on IPO resumption concerns, brokerages weaker
The Hang Seng Index finished down 0.4 per cent and the Shanghai Composite Index eased 0.6 per cent
Chinese stocks ended lower on Monday, weighed down by concerns that the restart of share listings this week may divert some funds away from the markets, while Guotai Junan led financial companies lower after the brokerage said it has not been able to contact its chairman Yim Fung since November 18.
Hong Kong’s Hang Seng Index finished down 0.4 per cent at 22,665.90, while the China Enterprises Index was off 0.7 per cent to 10,229.43.
On the mainland, the Shanghai Composite Index dropped 0.6 per cent to 3,610.32, and the large-cap CSI300 fell 0.6 per cent to 3,753.34. The Shenzhen Composite Index fell 0.8 per cent to 2,268.62, and the ChiNext Index shed 1.1 per cent to 2,770.58.
Turnover in Hong Kong totalled HK$63 billion, slightly down from Friday’s HK$64 billion. In Shanghai 414 billion yuan worth of shares changed hands, compared with 415 billion yuan in the prior session.
A batch of 10 Chinese companies approved to proceed with initial public offerings issued their preliminary prospectuses on Monday, the first since a four-month suspension was implement in June in an effort to calm unsteady markets.
