Hong Kong shares trim weekly losses

Published Dec 13, 2013

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Hong Kong - Hong Kong shares trimmed weekly losses on Friday, with the Chinese banking sector leading a tepid rebound after it was hit this week by worries Beijing would lower 2014 growth targets and signs of quicker interest rate liberalisation.

The Hang Seng Index, which closed on Thursday at its lowest since November 18, ended up 0.1 percent at 23,246 points.

The China Enterprises Index of the top offshore Chinese listings in Hong Kong rose 0.6 percent.

Gains on the day came in lackluster turnover, which at $7.7 billion, was some 10 percent below its 20-day moving average and much lighter than when markets fell earlier in the week.

On the week, they slid 2.1 and 3.1 percent, respectively.

This was the biggest weekly loss for the H-share index since the period that ended October 25.

Chinese leaders are expected to set 2014 economic targets and reform priorities after a key planning meeting this week. - Reuters

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