Lenovo Group slid amid doubts its new chief executive, William Amelio, will boost earnings at the company, the Hang Seng Index's best-performing stock this year.

Amelio "is still a mystery," said Herbert Lau, chief investment officer at Cash Asset Management in Hong Kong Thursday. "Can he perform or will he rock the boat? Nobody knows."

Hutchison Whampoa gained after selling a stake in its telecommunications unit and after winning government approval to build a container terminal in the UK.

The Hang Seng lost 38.89 points, or 0.3 percent, to end at 15,182.53.

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The Hang Seng China Enterprises Index, which tracks 40 mainland companies that have so-called H shares, dropped 0.1 percent to 5,278.72.

Stocks also fell as some fund managers booked profits from a rally this month and last, Lau said.

The Hang Seng gained 5.5 percent last month and this after a 6.8 percent drop in October. The index climbed 6.7 percent this year.

"Towards the end of the year, some fund managers may want to lock up some of their profits," said Lau, whose investments at Cash Asset have returned 36 percent in the past six months.

Lenovo, the world's third-biggest personal computer maker, slid 15 cents, or 4 percent, to HK$3.575. The stock had its biggest drop since November 3. The company said Wednesday it had hired Amelio, Dell's president for Asia- Pacific and Japan, to replace Stephen Ward as chief executive.

Hutchison, controlled by billionaire Li Ka-shing, gained 40 cents, or 0.5 percent, to HK$74.60. Orascom Telecom Holding, the Middle East's largest mobile-phone operator, agreed to buy a 19 percent stake in Hutchison Telecommunications International for US$1.3 billion (HK$10.14 billion).

Hutchison Telecommunications jumped 50 cents, or 4.6 percent, to HK$11.40. Orascom paid HK$11 a share for its stake and holds an option to buy another 3.7 percent in the next 12 months.

Separately, Hutchison Whampoa, the world's biggest port operator, won UK government approval to build a 300 million (HK$4.07 billion) container terminal at the port of Harwich on England's east coast to handle rising imports.

Fourteen of the Hang Seng Index's 33 members fell while 11 rose. Its December futures lost 0.2 percent to 15,252. Shares worth HK$15.3 billion traded, or 19 percent less than the three- month daily average.

Far East Consortium International jumped 12.5 cents, or 4.8 percent, to HK$2.725. Las Vegas Sands, owner of the Venetian casino, said Far East will build five hotels on Macau's Cotai Strip. Sands is building the 10.5-million- square-foot Venetian Macau as the anchor of the Cotai Strip.

VXL Capital climbed 40 cents, or 4 percent, to HK$10.50.

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