CITIC Hong Kong yesterday denied rumours it was placing shares in its listed investment arm. CITIC HK deputy managing director Henry Fan Hung-ling said the company did not carry out any share placement in CITIC Pacific on Monday. The shares were placed by a Southeast Asian fund, brokers said. They said the investment fund sold 10 million shares in CITIC Pacific at $23.86 each to Morgan Stanley before Monday's trading started. In turn, Morgan Stanley placed about 8.4 million shares with institutions the same day, they said. The block trades of shares, recorded on the Hong Kong exchange yesterday, made CITIC Pacific the most active stock by value. It posted turnover of $555.47 million, with the share price falling to $24.40 from $24.60. Meanwhile, CITIC Pacific has appointed HSBC Capital as co-ordinator and arranger of a $2 billion loan, according to the Reuter news agency.