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Hong Kong shares slip in weak turnover, Rongsheng jumps

Tuesday, 10 Dec 2013 | 3:07 AM ET

HONG KONG, Dec 10 (Reuters) - Hong Kong shares slipped in weak turnover on Tuesday, as coal producers sank on fears of reduced demand after pollution levels climbed to hazardous levels in the mainland.

The Hang Seng Index closed down 0.3 percent at 23,744.2 points, while the China Enterprises Index of the top offshore Chinese listings in Hong Kong shed 0.4 percent.

Turnover totalled $6.7 billion, some 21 percent below its 20-day average.

Markets were little changed by more data from China that suggested the world's largest economy was on track for 7.5 percent growth this year as its leaders began mapping their plans for 2014 behind closed doors on Tuesday.

China Rongsheng Heavy Industries spiked 8.9 percent, leading gains in the shipping sector after Beijing announced new subsidies for buying and scrapping ships that will run until end 2015, confouding an earlier pledge to reduce support for sectors plagued by overcapacity.