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Hong Kong: Stocks slip before US data, but register best week since early Sept
[HONG KONG] Hong Kong stocks slipped on Friday, pulled down by consumer and energy shares as investors locked in gains ahead of a long weekend and US job data that could give clues on when the Federal Reserve hikes interest rates.
The benchmark Hang Seng Index declined 0.4 per cent to 23,851.82 points, snapping a four-day streak of advances. The China Enterprises Index dropped 0.2 per cent to 9,923.82 points.
For the week, Hang Seng Index finished up 2.4 per cent and the Chinese companies index rose 3.6 per cent, their biggest weekly gains in four weeks.
Analysts said they anticipated mainland support for Hong Kong shares after Chinese markets reopen on Monday following a week-long holiday.
Hong Kong's market will be closed on Monday for a holiday.
On Friday, shares of Mengniu Dairy and China Resources Power, which rallied recently, fell 1.6 per cent and 0.9 per cent respectively.
Financials stocks added to declines, with Bank of Communications falling one per cent and Ping An down 0.2 per cent.
News that three more Chinese cities are joining 14 others in setting curbs on home-buying to prevent a bubble weighed on property developers. Shares of China Resources Land and China Overseas Land declined more than one per cent.