Hong Kong shares below 30K mark over global cue

Hong Kong stocks fell on Thursday to end below the 30,000-mark, a psychologically key resistance level, as investors booked profits while awaiting fresh catalysts following a spate of economic data this week that offered tentative signs of an economic rebound on the mainland.

** The Hang Seng index fell 0.5 per cent to 29,963.26 points, while the China Enterprises Index lost 0.7 per cent to close at 11,768.63 points. ** China's economy grew at a steady 6.4 per cent pace in the first quarter, data showed on Wednesday, defying expectations for a further slowdown, as industrial production jumped sharply and consumer demand showed signs of improvement.

** With China's economic stabilisation largely priced in a strong rally so far this year, investors turned cautious as they waited for evidence that the recovery is sustainable. ** Most sectors fell, led by materials and IT firms.

** Around the region, MSCI's Asia ex-Japan stock index was weaker by 0.44 per cent, while Japan's Nikkei index closed down 0.84 per cent. ** The yuan was quoted at 6.704 per U.S. dollar at 0814 GMT, 0.24 per cent weaker than the previous close of 6.688.

** The top gainers among H-shares were China Tower Corp Ltd, up 5.24 per cent, followed by China Gas Holdings Ltd, gaining 1.23 per cent and Shenzhou International Group Holdings Ltd, up by 0.97 per cent. ** The three biggest H-shares percentage decliners were Byd Co Ltd, which was down 4.02 per cent, Guangzhou Automobile Group Co Ltd, which fell 3.6 per cent and Haitong Securities Co Ltd, down by 2.4 per cent.

** About 1.62 billion Hang Seng index shares were traded, roughly 85.6 per cent of the market's 30-day moving average of 1.89 billion shares a day. The volume traded in the previous trading session was 2.10 billion. ** At close, China's A-shares were trading at a premium of 26.62 per cent over the Hong Kong-listed H-shares.