Mainland stocks in HK fall to one-month low
Chinese mainland stocks in Hong Kong fell to a one-month low as commodity prices declined and doubts grew over the sustainability of a pickup in the economic indicators.
The Hang Seng China Enterprises Index lost 0.6 percent, dropping for a third day. The Shanghai Composite Index slipped less than 0.1 percent, helping to widen the premium mainland companies' shares command over dual-listed counterparts in Hong Kong. China Petroleum & Chemical Corp and PetroChina Co paced losses for energy companies in Hong Kong as US crude prices traded below $44 a barrel. Zijin Mining Group Co sank the most in three weeks as gold prices retreated.
The Hang Seng China gauge has fallen 6 percent from an April 21 high. Prices are reversing in the commodities futures as exchanges took steps to cool speculative activity, while a private gauge of Chinese manufacturing declined more than expected in April, data released by Caixin Media and Markit Economics showed.
