Hong Kong stocks have ended marginally lower, in line with an Asia-wide sell-off following losses on Wall Street.
The benchmark Hang Seng Index dipped 13.94 points on Wednesday to 22,866.70 on turnover of $HK43.97 billion ($A6.13 billion).
The index avoided heavier losses like those seen elsewhere in the region, owing to support from bargain-hunting following Monday’s 1.70 per cent slump.
But the main lead came from New York, where all three of the city’s main indexes slipped despite upbeat economic data.
The US Conference Board said consumer confidence rose for the second straight month in June to its highest level since January 2008, while the Commerce Department said sales of new homes in May hit their highest pace since 2008.
On Wall Street the Dow sank 0.70 per cent and the S&P 500 fell 0.64 per cent after ending last week at record highs, while the Nasdaq slipped 0.42 per cent
“The environment of low return, low volume and low volatility will likely persist, with periodical volatility flares,” Bank of Communications’ China strategists said in a note to clients, according to Dow Jones Newswires.
China Mobile edged up 0.40 per cent to $HK74.55, Cathay Pacific Airways eased 0.28 per cent to $HK14.26 and HSBC PLC was 0.38 per cent lower at $HK79.65, while Henderson Land Development rallied 1.55 per cent to $HK46.00.
Internet firm Tencent eased 0.26 per cent to $HK114.6, Ping An insurance lost 0.97 per cent to $HK59.5, Bank of China shed 0.29 per cent to $HK3.41 and property developer China Vanke was unchanged at $HK13.26.
In China the benchmark Shanghai Composite Index fell 0.41 per cent, or 8.43 points, to 2,025.50 on turnover of 56.0 billion yuan ($A9.74 billion).
The Shenzhen Composite Index, which tracks stocks on China’s second exchange, slid 0.40 per cent, or 4.27 points, to 1,064.23 on turnover of 84.3 billion yuan.
Traders will be keeping their eyes on Shenzhen Thursday, when three new firms will list for the first time in four months.
“The overall market was hurt by caution ahead of the new listings,” Shenyin Wanguo Securities analyst Qian Qimin said.
“Some investors dumped existing stocks so they can invest in new shares (Thursday), also contributing to losses in the market.”
In Shanghai banking giant ICBC fell 1.17 per cent to 3.38 yuan while Poly Real Estate lost 1.41 per cent to 4.89 yuan. SAIC Motor slipped 1.67 per cent to 15.29 yuan, Air China eased 0.61 per cent to 3.24 yuan and Wuhan Iron & Steel was unchanged at 2.01 yuan.
However, stocks of companies that went public early this year outperformed, highlighting enthusiasm towards new shares.
On the Shenzhen market, auto parts maker Tianjin Pengling Rubber Hose soared by its 10 per cent daily limit to 34.57 yuan, while education services provider Guangdong Qtone Education gained 4.92 per cent to 61.80 yuan.