Hong Kong shares close down 0.5pc, debutants slump

HONG KONG: Hong Kong shares declined for a fifth straight session on Wednesday, weighed down by resources-related names in weak turnover that is expected to drag into the final weeks of 2011, with most long funds seen done for the year.

The Hang Seng Index finished down 0.5 percent at 18,354.43. The China Enterprises Index of top mainland companies listed in Hong Kong ended down 0.69 percent at 9,888.15.

The Shanghai Composite Index closed down 0.89 percent at 2,228.53, breaking below a long-term chart support, with losses accelerating in the afternoon after a key economic meeting among China's top leaders broadly endorsed a decision last week to avoid big policy changes.