Hong Kong shares close up 0.2 pct, but post 2nd weekly decline

HONG KONG Fri Nov 16, 2012 8:09am GMT

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HONG KONG Nov 16 (Reuters) - Hong Kong shares bounced off a one-month low on Friday, helped by strength in defensive counters, but still posted a second-straight weekly decline as the market retreated further from 2012 highs marked earlier this month.

The Hang Seng Index ended up 0.2 percent on the day but down 1.1 percent on the week at 21,159 points.

The China Enterprises Index of the top Chinese listings in Hong Kong finished up 0.4 percent on Friday, but down 2 percent on the week.

The CSI300 Index of the top Shanghai and Shenzhen listings ended down 0.8 percent on the day and 2.8 percent on the week at 2,177.2, its lowest close since early 2009.

The Shanghai Composite Index shed 0.8 percent on Friday, and 2.6 percent this week.

HIGHLIGHTS:

* Chinese telcos were all broadly higher on the day, with the two smaller sector players China Unicom and China Telcom seeing their first daily gain this week, rising 2.9 and 4 percent respectively. China Mobile provided the biggest single boost for the Hang Seng Index, rising 0.9 percent.

* Global supply chain manager, Li & Fung slumped 4.7 percent to its lowest since mid-October after one of its major clients, Wal-Mart Stores Inc posted disappointing quarterly sales on Thursday.

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