Hong Kong shares end flat as investors pause after recent rallies

** The sub-index of the Hang Seng tracking the consumer staple sector dropped 1.93%, while the financial sector ended 0.3% lower and the property sector dipped 0.19%. ** Mainland investors purchased a net 12.26 billion yuan ($1.90 billion) worth of Hong Kong stocks via the Stock Connect linking Shanghai, Shenzhen and Hong Kong, Refinitiv data showed, remaining the momentum from previous sessions.

Hong Kong shares ended lower on Wednesday, with consumer shares leading the declines, as investors paused after a rally fuelled by the south-bound bargain hunting from mainland investors.

** The Hang Seng index ended 29.72 points or 0.11% lower at 28,268.80. The Hang Seng China Enterprises index fell 0.27% to 11,199.59. ** The sub-index of the Hang Seng tracking the consumer staple sector dropped 1.93%, while the financial sector ended 0.3% lower and the property sector dipped 0.19%.

** Mainland investors purchased a net 12.26 billion yuan ($1.90 billion) worth of Hong Kong stocks via the Stock Connect linking Shanghai, Shenzhen and Hong Kong, Refinitiv data showed, remaining the momentum from previous sessions. ** In recent sessions, as U.S. investors dump shares in Chinese companies blacklisted by outgoing President Donald Trump, bargain hunters in China are taking the opposite side of that trade, wagering that a Joe Biden presidency will reverse the investment ban.

** The top gainer on the Hang Seng on Wednesday was CNOOC Ltd , which gained 4.93%, while the biggest loser was Sino Biopharmaceutical Ltd, which fell 3.53%. ** China's main Shanghai Composite index closed down 0.27% at 3,598.65, while the blue-chip CSI300 index ended down 0.33%, on profit-taking.

** Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.25%, while Japan's Nikkei index closed up 1.04%. ($1 = 6.4618 Chinese yuan)