HK shares slip, Shanghai suffers worst week in 2 mths

17/03/2012 07:36 AST

Hong Kong shares slipped on Friday but still ended up for the week as strength in some large caps on improving fundamentals offset days of weakness in Chinese developers after Premier Wen Jiabao doused hopes for eased property curbs.

The Shanghai Composite Index had its worst week in more than two months, slipping 1.4 percent, despite rising 1.3 percent on Friday in low turnover.

For the week, the China Enterprises Index of the top mainland listings in Hong Kong lost 0.4 percent while the Hang Seng Index rose 1.1 percent. On Friday, both indexes declined 0.2 percent.

China Overseas Land & Investment Ltd lost 4.7 percent and China Resources Land slumped 5.3 percent on Friday, bringing their weekly losses to 6.7 and 8.1 percent, respectively.

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Reuters

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