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HK stock market drops as energy firms dip

By Bloomberg | China Daily | Updated: 2016-10-27 07:29

Chinese mainland shares listed in Hong Kong fell the most in two weeks, dragged down by energy companies on a drop in oil prices. Great Wall Motor Co slumped the most since January after reporting quarterly earnings.

The Hang Seng China Enterprises Index lost 1.4 percent at the close, with China Oilfield Services Ltd and China Petroleum & Chemical Corp among the biggest decliners as crude sank for a third day on speculation Russia won't join OPEC's planned output cuts. Great Wall Motor tumbled 11 percent as at least three analysts cut their rating on the stock, with Nomura Holdings Inc saying the automaker's profit recovery may be temporary. The Shanghai Composite Index ended three days of gains that took it to its highest level since January.

The H-share gauge has slipped 3.6 percent since reaching a nine-month high in September as inflows through the exchange link with Shanghai slowed.

HK stock market drops as energy firms dip

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