Hong Kong Stocks Fall Second Day Ahead of China Services ReportHong Kong stocks fell a second day, with the benchmark index extending declines after reaching a five-month high this week, ahead of a private survey of China��s services sector.

The Hang Seng Index declined 0.4 percent to 23,069.11 as of 9:37 a.m. in Hong Kong, with almost three shares falling for each that rose. The Hang Seng China Enterprises Index, also known as the H-share index, lost 0.5 percent to 10,267.58.

The Hang Seng Index pared losses to 0.7 percent this year through yesterday after falling as much as 9.1 percent, buoyed by signs of a manufacturing recovery and measures from China��s government to counter an economic slowdown. The equity gauge traded at 10.8 times estimated earnings yesterday, compared with 7.2 for the H-share index and 16.3 for the Standard & Poor��s 500 Index.

The China services Purchasing Managers�� Index from HSBC Holdings Plc and Markit Economics is due today after falling to 51.4 in April from 51.9 the month before. The nation��s official manufacturing gauge released over the weekend rose to a five-month high of 50.7 in May. Readings above 50 indicate expansion.

Source : Bloomberg