HONG KONG, Jan 27 (Reuters) - Hong Kong shares failed to hold on to early gains on Thursday, despite a rebound in Shanghai, as property and banking shares offset strength in commodity-related counters such as shippers and metal producers.
The benchmark Hang Seng Index <.HSI> ended down 0.27 percent at 23,779.62 with short-selling activity picking up for a second day suggesting investors were selling into rallies. The China Enterprises Index <.HSCE> finished flat. (Reporting by Vikram Subhedar; Editing by Chris Lewis) (vikram.subhedar@thomsonreuters.com; +852 2843 6975; Reuters Messaging: vikram.subhedar.reuters.com@reuters.net))