By Amy Lam
Nikkei Markets
HONG KONG (Nov 28) -- Hong Kong shares headed for a second consecutive day of losses on Tuesday, weighed down by index heavyweight Tencent Holdings and insurers, while concern about elevated credit costs kept mainland stocks under pressure.
The Hang Seng Index had lost 0.9% to 29,420.94 by midday. Insurer AIA Group slid 2.5% to lead losses on the gauge. Ping An Insurance Group shed 2.5% after a 2.7% drop on Monday, while social-media and gaming major Tencent lost 1.4% by the noontime lunch break. Tencent has closed lower for the previous four trading days, setting course for its longest losing streak since March. Offshore oil producer CNOOC shed 2.2% as U.S. crude edged away from two-year highs ahead of a meeting of the Organization of the Petroleum Exporting Countries this week.