Hong Kong's key stock index falls 0.4 percent
Hong Kong shares fell modestly Tuesday, as investors sold Chinese telecom companies that had gained recently after Beijing approved next-generation mobile licenses.
The blue chip Hang Seng Index lost 53.80 points, or 0.4 percent, to 15,509.51.
The market was bound to see some selling after three straight days of gains, analysts said.
'You don't see people falling over each other to buy stocks. No one believes that if they don't buy now they'll miss the buy of the century,' said Francis Lun, general manager of Fulbright Securities Ltd.