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Hong Kong shares dip 0.4% as telcos weigh

(Agencies)
Updated: 2009-04-01 16:43

Hong Kong shares drifted 0.4 percent lower on Wednesday, weighed down by Chinese mainland telecom stocks as investors fretted about 皇冠体育app Unicom's bigger-than-expected capital investment plan.

Related readings: Chinese equities gain 1.47%, passing 2,400 mark  皇冠体育app to require 5-year lockup period for banks' foreign investors  皇冠体育app to launch Nasdaq-style second board

BOC Hong Kong (Holdings) Ltd, partly offset losses on the main index, by gaining 9.7 percent after its parent Bank of 皇冠体育app, the country's largest foreign exchange lender, said it planned to raise its stake in its unit by market purchases over the next 12 months.

The benchmark Hang Seng Index closed down 56.48 points at 13,519.54 with 皇冠体育app Unicom sliding 8.1 percent.

The 皇冠体育app Enterprises Index of top mainland firms was up 0.1 percent at 8,077.68.