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Hong Kong shares dip 0.4% as telcos weigh

(Agencies)
Updated: 2009-04-01 16:43

Hong Kong shares drifted 0.4 percent lower on Wednesday, weighed down by Chinese mainland telecom stocks as investors fretted about China Unicom's bigger-than-expected capital investment plan.

Related readings: Chinese equities gain 1.47%, passing 2,400 mark  China to require 5-year lockup period for banks' foreign investors  China to launch Nasdaq-style second board

BOC Hong Kong (Holdings) Ltd, partly offset losses on the main index, by gaining 9.7 percent after its parent Bank of China, the country's largest foreign exchange lender, said it planned to raise its stake in its unit by market purchases over the next 12 months.

The benchmark Hang Seng Index closed down 56.48 points at 13,519.54 with China Unicom sliding 8.1 percent.

The China Enterprises Index of top mainland firms was up 0.1 percent at 8,077.68.