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Wednesday, October 19, 2016, 17:19

Shares end lower

By Reuters

Hong Kong shares fell on Wednesday, giving up some of the previous session's solid gains, as Chinese mainland's economic growth data did little to prop up fragile investor sentiment.

The Hang Seng index fell 0.4 percent, to 23,304.97, while the China Enterprises Index lost 0.8 percent, to 9,641.22 points.

There was little surprise from mainland's third quarter gross domestic product (GDP) data. The economy grew 6.7 percent from a year earlier, steady from the previous quarter, as increased government spending and a property boom offset stubbornly weak exports.

And a morning rally in Chinese state companies listed in Hong Kong fizzled out, as investors took profit from gains that had been fuelled by reform hopes.

Most sectors were down, led by materials and industrial stocks.

Hong Kong-listed shares of China Life slid 2.7 percent, after it forecast a 60 percent drop in net profit for the first nine months of the year.

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