Mainland-related equities - H shares and red chips - tumbled yesterday because they were not targets of the Hong Kong Government's massive buying programme.
Analysts said the performance of the mainland shares was a better reflection of the poor situation in the market, plagued by concern over Hong Kong's economic health and the currency crisis in Russia.
The Hang Seng China Enterprises Index, which tracks H shares, dived 24.57 points, or 9.57 per cent, to 232.29. The Hang Seng red chip index slid 30.84 points, 5.07 per cent, to 577.52.
SG Securities (HK) head of China research Raymond Jook said trading interest in H shares and red chips was thin.
'This year is going to be uneventful because those who wanted to sell have already sold,' he said.
With interim results poor and the mainland economy slowing, Mr Jook said the shares were unlikely to attract new investment. Many H shares have reported dismal results, with large profit falls or hefty losses.
