Local Stocks Head South At Break

Hong Kong stocks fell in the morning session on Friday as investors took profits from recent gains while keeping tabs on US stimulus talks.

The Hang Seng Index slipped 0.67 percent, or 178 points, to 26,499.

Mainland stocks rose marginally, driven by gains in coal miners on reports of worsening electricity shortages in some provinces.

At the midday break, the Shanghai Composite index was up 0.13 percent at 3,409 while the blue-chip CSI300 index was up 0.03 percent.

The smaller Shenzhen index was up 0.15 percent.

Some Chinese cities reported increase in electricity shortages, boosting shares including Shanghai Datun Energy Resources Co Ltd, Datong Coal Industry Co Ltd and Anhui Hengyuan Coal Industry and Electricity Power Co Ltd. All of them hit their daily upper price limit. (AFP/Reuters)

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