Hong Kong shares ended 0.27 percent lower Friday following another round of poor Chinese data, although Shanghai ended a tumultuous week on a high as investors bet on fresh stimulus measures to boost the mainland economy.
The Hang Seng Index shed eased 63.34 points to 23,249.20 on turnover of HK$76.89 billion ($9.92 billion), ending the week three percent lower. However, Shanghai rose 0.42 percent to end the week flat, despite a more than five percent slump on Tuesday.
Traders took their cash off the table after China said industrial output expanded at its slowest pace in three months in November, while fixed asset investment, a measure of government spending on infrastructure, was also easing.
The figures come in the same weak as data showing November inflation at a five-year low, imports shrinking and exports growth sharply slower.
The result overshadowed a Wall Street advance that was fuelled by a strong increase in US retail sales in November, the start of the holiday shopping season.
"The one silver lining in these data is the evidence of rebalancing from investment toward consumption," said Nomura, according to Dow Jones Newswires.
Cathay Pacific Airways fell 1.25 percent to HK$17.36, HSBC lost 0.86 percent to HK$75.15 and Henderson Land Development eased 0.10 percent to HK$51.70. However, Tencent Holdings added 0.26 percent to HK$113.70 and Ping An Insurance of China was 0.41 percent higher at HK$74.00.
In mainland China the benchmark Shanghai Composite Index added 12.43 points to 2,938.17 on turnover of 420.4 billion yuan ($68.7 billion). The index, which slumped more than five percent Tuesday, ended the week almost unchanged.
The Shenzhen Composite Index, which tracks stocks on China's second exchange, rose 0.97 percent, or 14.23 points, to 1,479.82 on turnover of 262.9 billion yuan. It gained 1.73 percent for the week.
"The market took a breather after wide swings earlier," Zheshang Securities analyst Zhang Yanbing told AFP.
"However, investors took an interest in industries that may enjoy supportive polices for the sake of a more balanced economic structure."
The Shanghai index slumped 5.43 percent Tuesday after running up gains of more than 20 percent since the middle of November on hopes for economy-boosting measures from the government. The gains were exacerbated by the People's Bank of China's decision on November 21 to cut interest rates.
Alternative energy and environmental protection shares rose on expectations of more supportive policies.
Shenzhen-listed solar-panel parts manufacturer Beijing Sevenstar Electronics Co. soared by its 10 percent limit to 27.59 yuan while Shanghai-listed Zhejiang Feida Environmental Science & Technology Co. added 8.43 percent to 16.34 yuan.
Securities firms rebounded after earlier pullbacks. On the Shanghai market, Southwest Securities Co. surged by its 10 percent daily limit to 18.67 yuan while China Merchants Securities Co. jumped 8.19 percent to 27.62 yuan. - AFP