Hong Kong posts first weekly loss in four

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HongKong111

Hong Kong - Hong Kong's benchmark share index had its first losing week in four, despite strength in Chinese energy companies on Friday due to higher oil prices.

The Hang Seng Index fell 0.2 percent on Friday to 24,331.41 points.

It slipped 0.8 percent this week.

The China Enterprises Index of the leading offshore Chinese listings in Hong Kong was down 0.4 percent on the day and 1.4 percent on the week.

China's three largest state oil companies - PetroChina, China Petroleum & Chemical Corporation and CNOOC - climbed 1.2, 1.2 and 1.7 percent, respectively.

China Unicom slid 1.7 percent to close at a 4-week low.

The country's second-biggest wireless carrier on Thursday reported first-half net income lower than expectations, due to China's new value-added tax programme. - Reuters


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