Hong Kong stocks slip, as start-up board tumbles most in nearly 2 years

Asia Strategy Digit Technology Holdings

27/06/2017 09:09

June 27 (Reuters) - Hong Kong stocks dipped on Tuesday, as 
any optimism from solid China industrial profit data was offset 
by the sour mood from a tumble in the growth enterprise market 
(GEM)  .SPHKGEM  for start-ups due to worries over potential 
policy changes. 
    The Hang Seng index  .HSI  fell 0.1 percent, to 25,839.99, 
while the China Enterprises Index  .HSCE  lost 0.3 percent, to 
10,498.07 points.     
    Investors largely looked past news that profits at China's 
industrial companies surged 16.7 percent in May from a year 
earlier.  urn:newsml:reuters.com:*:nL3N1JO1D0 
    A nearl-10 percent slump in GEM, the biggest drop in nearly 
two years, soured the mood. Over a dozen small-caps lost over 50 
percent on Tuesday - some tumbling over 90 percent - amid 
speculation the Hong Kong stock exchange would delist 
thinly-traded stocks.  
    China Jicheng Holdings  1027.HK  lost 94 percent, while 
Greaterchina Professional Services  8193.HK  tumbled 93 percent. 
     
    Most sectors lost ground as the Hang Seng appears to be 
losing steam.     
    Investors are looking for new catalyst as Chinese President 
Xi Jinping will visit Hong Kong from June 29 to July 1 to mark 
the 20th anniversary of the handover of the city from British 
colonial rule to the mainland.  
 
 (Reporting by the Shanghai Newsroom; Editing by Simon 
Cameron-Moore) 
 ((samuel.shen@thomsonreuters.com;  +86 21 6104 1789; Reuters 
Messaging: samuel.shen.thomsonreuters.com@reuters.net)) 
 
Keywords: CHINA STOCKS/HONGKONG CLOSE