Hong Kong slips as HSBC weighs, but Shanghai up
LOS ANGELES (MarketWatch) -- Hong Kong stocks moved lower in early Tuesday trading, with the Hang Seng Index losing 0.3% to 20,050.90, as its two top-weighted components lost ground, though mainland Chinese names edged higher, with the Hang Seng China Enterprises Index up 0.1% and the Shanghai Composite rising 0.2%. HSBC Holdings PLC -- the top Hang Seng Index constituent -- fell 0.9%, tracking a 1.2% loss for its London shares, while No. 2 constituent China Mobile Ltd. edged down 0.1%, extending a recent retreat following its earnings. Energy firms traded generally weaker, with China Coal Energy Co. Ltd. losing 1.2%, and Cnooc Ltd. and PetroChina Co. each off 0.4%. China Resources Power Holdings Co. moved 2% lower, after gaining in the previous session on the back of its 21% rise in first-half net profit.
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