Hong Kong shares close down 0.3pc, but post best month in 10
Hong Kong shares ended their best month in 10 on a whimper on Wednesday, as weakness in Tencent offset a strong mainland property sector after China’s politburo appeared to affirm greater official tolerance for home price increases.
The Hang Seng Index ended down 0.3 per cent at 21,883.7 points after earlier hitting its highest intra-day level since June 5. The China Enterprises Index of the top Chinese listings in Hong Kong slipped 0.1 per cent.
In July, the Hang Seng benchmark had its best month since September, climbing 5.2 per cent. The H-share index rose 3.7 per cent for its best monthly showing since January.
Bourse turnover fizzled out after an early spike as investors marked time ahead of the outcome of the US Federal Reserve policy meeting and the China official manufacturing PMI early on Thursday as well as US jobs data on Friday.