HSI closes down 0.29% at 17,471 points (Il Sole 24 Ore Radiocor) - Hong Kong , 10 Jul - Hong Kong share prices erased earlier gains and closes moderately lower, extending recent losses amid weak Asian markets.

The Hang Seng index closed down 0.29% at 17,471 points after slipping on Monday to a near three-month low and posting in June its first monthly loss since January.

Caution prevailed as investors digested mixed inflation data.

China's consumer prices grew for a fifth month in June, rising by 0.2% in June from a year ago, but missed expectations for a 0.4% increase, while producer prices fell by 0.8% year-on-year in June, the 20th consecutive monthly decline. Economists were expecting a 1.4% drop.

In the city's stock market dealings Ping An Insurance rallied 0.82%, rebounding g from a four-day drop on reports it is considering issuing a convertible bond worth up to 5 billion US dollars, with a deal expected in the next few weeks.

Technology shares were little changed Hong Kong dealings, with the Hang Seng Tech Index down 0.01%.

Property shares dipped for a fourth straight session, with the Hang Seng Mainland Properties index down 0.82%.

Traders also look forward to a meeting of China's political leaders from July 15 to 18 known as the Third Plenum, amid expectations that important economic measures could be announced during the event.

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(RADIOCOR) 10-07-24 11:43:47 (0264) 5 NNNN