Hong Kong shares fall, weighed by financials, Tencent

SHANGHAI: Hong Kong stocks fell on Thursday, weighed by financials and index heavyweight Tencent, with weakness in mainland stocks also hurting sentiment.

The benchmark Hang Seng index dropped 0.4 per cent to 24,301.09 points, while the Hong Kong China Enterprises Index lost 0.8 per cent to 10,355.71.

Chinese money inflow was absent as the southbound trading between mainland cities and Hong Kong through connect schemes was suspended until April 5 for a holiday break.

Shares lost ground across the board.

Shares of most mainland financial institutions fell, while Tencent retreated 1.3 per cent after its recent rally.

Li & Fung Ltd plummeted nearly 10 per cent after the firm reported a 47 per cent slide in annual net profit, missing expectations.