04.09.201403:17:56UTC+00Hong Kong stocks fall following six-year high

Hong Kong stocks dropped in the trading session today following a six-year high level yesterday dragged by utilities.

The Hang Seng Index shed 0.2% to 25,259.95, 1:06 pm, Hong Kong time. The index reached a high last seen in May of 2008. The H-share index or the Hang Seng China Enterprises, meanwhile, added 0.7% to 11,387.12. Hong Kong’s gauges both reached a high yesterday that was last seen in November. The boost in the indices may be attributed to the growth of mainland service industries and the waning protests risks in Hong Kong.

Hengan International Group Co. shed 1.9% while Hong Kong & China Gas Co. dropped by 1.4% to pace losses among its peers. Telecommunications Holding Ltd. slipped by 3.4% as railing company CSR Corp. ended trading today. Coming back from a suspension, Zhuzhou CSR Times Electric Co. surged by 7.7%.

Head of sales trading at Espirito Santo Securities Inc., Andrew Sullivan commented that the market is nervous due the fact the there is a scarcity of company news and most events are macro. Sullivan adds that investors are now concerned and caution before the slew of central bank announcements.