The index had rallied more than 4 percent since last Tuesday after better-than-expected manufacturing data from major economies and United States payrolls data eased some worries about the global outlook.

It shed about a third of those gains today, with China Mobil the biggest drag on the index, slumping 3.8 percent and pulling other telecommunications counters lower.

"News of such a big placement is going to affect appetites for the entire sector and telecom shares have had a very good run this year, so some profit-taking is reasonable," said Jackson Wong, a vice-president at Tanrich Securities in Hong Kong.