LOS ANGELES (MarketWatch) -- Chinese stocks opened lower Thursday, with banks mostly weaker after a slew of earnings results from the top mainland Chinese lenders. Hong Kong's Hang Seng Index (HK:HSI) fell 0.8% to 23,120.24, with the Hang Seng China Enterprises Index also 0.8% lower, while the Shanghai Composite (CN:SHCOMP) gave up 0.6% in early moves. Mostly disappointing earnings from some of the largest banks helped sink their shares. Industrial & Commercial Bank of China Ltd. (HK:1398) (IDCBF) dropped 1.7%, Bank of China Ltd. (HK:3988) (BACHY) retreated by 0.8%, and Bank of Communications Co. (HK:3328) (BKFCF) dropped 2.6% after all three posted lower profit growth than a year earlier, and with BoCom saying it could raise capital with a preferred-share issue. In other post-earnings reactions, China Minsheng Banking Corp. (HK:1988) (CMAKY) fell 3.2%, but Agricultural Bank of China Ltd. (HK:1288) (ACGBF) traded flat. In Shanghai, ICBC (CN:601398) lost 0.5%, Bank of China (CN:601988) fell 0.4%, BoCom (CN:601328) was down 1.6%, China Minsheng (CN:600016) tumbled 3.5%, and AgBank (CN:601288) retreated 0.8%. Among gainers, Lenovo Group Ltd. (HK:992) (LNVGF) rose 1.5% after the company launched its new Yoga tablet, with actor Ashton Kutcher to be involved in the device's marketing.
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