Market Wrap: Hong Kong stocks end 0.26pc lower

Hong Kong shares fell 0.26 per cent on profit-taking and corporate fundraising injecting new shares into the market on Thursday, breaking a three-day rally that saw the market hit a 16-month high.

The benchmark Hang Seng Index eased 57.77 points to close at 22,445.58 on turnover of HK$62.49 billion (US$8.06 billion).

Blue-chip power producer CLP tapped the market for US$984 million through a share placement, dropping 3.6 per cent to HK$64.80, while Uni-President China slumped 5.3 per cent to HK$9.01 and Kaisa tumbled 7.7 per cent to HK$2.39 as investors sold shares.

via Business feed http://www.scmp.com/business/money/stock-talk/article/1104653/market-wrap-hong-kong-stocks-end-026pc-lower