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Hong Kong shares suffered a second straight loss on Friday to end the week in the red, with Chinese oil majors suffering the brunt of renewed growth fears after a string of global manufacturing data disappointed.
The Hang Seng Index closed down 1.4 percent at 18,995.13, off 1.2 percent on the week. The China Enterprises Index of top mainland Chinese listings in Hong Kong ended down 1.65 percent at 9,504.19, finishing the week 2.5 percent lower.
Surveys showed on Thursday that manufacturing activity in the United States, euro zone and China weakened in June.
Markets in mainland China were closed for a public holiday.
HIGHLIGHTS:
* The Hang Seng Index ended just above near-term support seen at the 50 percent Fibonacci retracement of its rise from the October low to February high at about 18,968. The benchmark has twice failed to surpass chart resistance at its 200-day moving average this week.
* Chinese oil majors extended losses, tracking the downward spiral in global oil prices that took Brent crude oil below $90 per barrel for the first time in 18 months on Thursday. CNOOC Ltd slumped 4 percent, shaving $3.1 billion off its market capitalisation. PetroChina Ltd shed 2.7 percent to cut $7.5 billion off its market capitalisation.
* Evergrande Real Estate Group Ltd ended a choppy session 3.5 percent lower, following an 11 percent dive on Thursday. China's second-largest developer by sales finished Friday at the lowest since May 25 despite saying it may take legal action against a short-seller that has accused it of fraud, bribery and financial irregularities, and may buy back some of its shares.
WEEK AHEAD:
* The lockup period expires on Monday for some cornerstone investors who invested in Italian luxury brand Prada SpA when it listed in Hong Kong last year. This could put some pressure on the stock since it has gained almost 26 percent since its debut on June 24 last year. - Reuters
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