Hong Kong shares close down 0.3 pct, trimming strong 2013 start
HONG KONG |
HONG KONG Jan 4 (Reuters) - Hong Kong shares ended their best week in six on a weaker note, as investors on Friday took profit on outperformers in the past two days after the U.S. Federal Reserve signalled growing concerns about its stimulative monetary policy.
The Hang Seng Index closed down 0.3 percent for the day, but up 2.9 percent this week at 23,331.1. The China Enterprises Index shed 0.4 percent on Friday, but jumped 4.9 percent this week.
In the mainland, the CSI300 of the top Shanghai and Shenzhen A-shares closed up 0.1 percent on the day and 1.8 percent for the holiday-shortened week. The Shanghai Composite Index rose 0.4 percent on Friday and 2 percent this week.
* The Fed's asset-purchase programme has been among the chief reasons for the swelling inflows into the Chinese territory that have buoyed markets. Fed reticence about further growing its $2.9 trillion balance sheet could limit capital flows, knocking the Hang Seng Index off 19-month highs.
* This week's gains were the China Enterprises Index's best in nearly a year. For the Hang Seng, it was the best week since the one that ended Nov. 23.
* Chinese non-banking financial and coal stocks were among Friday's biggest drags after leading the surge in the first two trading days of 2013 following a last minute U.S. deal averting the fiscal cliff. Yanzhou Coal declined 0.9 percent from Thursday's near-eight month high.
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