A THIN day on the stock market was dominated by second-and third-liners with the Hang Seng Index slipping 37.07 points to 7,168.34 ahead of British Foreign Minister Douglas Hurd's meeting in Beijing tomorrow.
Brokers said there was some optimism at the end of the seventh round of Sino-British talks and expectation of a slight narrowing of the gap following Mr Hurd's meetings, which allowed futures to close at a premium to the cash index.
But the growing number of cash calls, plus new China and Hongkong listings, could depress summer activity.
Yesterday blue chips gave way to smaller companies - many, like Tung Wing Steel and Paragon, now in the hands of mainland giants - with the most active stock being Manhattan Card, which made its market debut on Friday.
Sellers of blue chips hit the market early, dragging the index lower. An intra-day low of 7,129 was hit around 10.15 am.
SBCI Derivatives salesman James Vinall said the spot index fall was averted by a big order for futures.