China's dominant offshore oil producer CNOOC Ltd, the biggest blue chip loser, fell as much as 4.05 percent at one point before recouping some losses to end down 2.03 percent at HK $3.625 after posting a forecast-lagging 11 percent rise in first-half profits after Wednesday's close. The benchmark Hang Seng Index hit an intraday high of 12,843.86 before reversing course, ending 8.64 points lower at 12,784.39 after a three-day rally.
Turnover totalled HK $16.17 billion (US $2.07 billion), lighter than HK $21 billion on Wednesday.
Traders said the Hang Seng is taking a breather after recent gains. The index ran into profit-taking pressure near the 12,800-points level.
Global giant bank HSBC Holdings Plc weighed on the index, slipping 0.41 percent to HK $120.
Index heavyweight Hutchison Whampoa Ltd, which jumped as much as 0.82 percent in opening trade, was unchanged at HK $61. The firm drew buying early on after Li Ka-shing, Asia's richest businessman, raised his stake in his ports-to-telecoms flagship to 50.52 percent in the past week from 50.4 percent.
Li bought 5.5 million Hutchison shares for HK $326.66 million, at an average price of HK $59.39 each between August 20 and August 24.
China-backed Shanghai Industrial, the biggest blue chip winner, jumped as much as 4.01 percent before easing to HK $14.10, up 2.92 percent.
The stock drew bargain hunting after losing 22.82 percent so far this year through Wednesday's close, compared to a gain of 1.23 percent in the Hang Seng in the same period. Shares in China-backed conglomerate Citic Pacific Co Ltd ended 1.55 percent higher at HK $19.65 after it posted a first-half net profit of HK $1.36 billion, up 225 percent, helped by a sharp recovery in its aviation business.
Brilliance China Automotive Holdings Ltd, the Chinese partner of BMW AG, surged 10.12 percent to HK $1.85 after plunging 60.7 percent so far this year through Wednesday's close, sharply lagging a 15.91 percent loss in the H-share index. Shares in transport conglomerate China Merchants Holdings (International) Co Ltd added 1.32 percent to HK $11.50 after the firm said on Thursday it would record a gain of HK $195 million from selling its oil tanker business to its parent. Shares in Travelsky Technology, a Chinese tourism computer software company, jumped 4.59 percent to HK $5.70 after the firm announced a 68 percent rise in interim profit.
Oil giant Petrochina Ltd ended unchanged at HK $3.875 ahead of its first-half results. The firm posted after the close an interim profit of 45.3 billion yuan (US $5.47 billion), up 17 percent year on year.