HK shares finish lower as weak rally fades

Hong Kong shares closed lower on Thursday, failing to hold onto opening gains as market players remained wary about chasing a low-volume rally amid continued concern over Europe's debt woes and the U.S. economy, according to Reuters. The Hang Seng Index finished down 0.67 percent at 19,912.82 in light volume. The China Enterprises Index fell 0.43 percent. In China, the Shanghai Composite Index closed down 0.68 percent ahead of economic data on Friday. HIGHLIGHTS: * HSBC Holdings Plc , the biggest contributor to earlier gains on the Hang Seng Index, ended up 0.1 percent despite a 1.1 percent jump at the open. A rally in financial stocks in Europe and the United States had pushed HSBC shares higher but they fell back after encountering resistance around HK$65, a support it broke earlier this week. * China Yurun Food Group Ltd dropped 16.1 percent to a one-year low, hit once again by worries over quality issues. An unconfirmed report in the National Business Daily said meat from the company's Henan unit contained additives. * China Mobile Ltd continued to provide some support for the benchmark index on optimism that the world's largest mobile operator by users would continue to generate steady profit. It rose 0.9 percent on Thursday, up nearly 11 percent this quarter compared with an 11.3 percent drop for the Hang Seng Index. * Belle International Holdings Ltd slumped 8.5 percent, the biggest single-day drop since becoming a constituent of the Hang Seng Index last August. The footwear maker and distributor said its management would sell 240 million shares at a discount.