HONG KONG, April 5 Hong Kong shares finished a
holiday-shortened week at their lowest close since Nov. 28, as
fears of a bird flu outbreak sparked a broad selloff, and
further falls looked possible after the benchmark index broke
below a key technical support.
The Hang Seng Index ended down 2.7 percent at
21,726.9 on Friday. The China Enterprises Index of the
leading Chinese listings in Hong Kong shed 3.1 percent. It, too,
ended at its lowest point since Nov. 28.
During the shortened week, the indexes slid 2.6 and 4.3
Markets in mainland China stayed shut for a public holiday
and will resume trading on Monday. The Shanghai Composite Index
and the CSI300 of the top Shanghai and
Shenzhen A-share listings each fell 0.5 percent this week.
* Losses on Friday meant the China Enterprises Index closed
below its 200-day moving average, now at about 10,508.9, for the
first time since Nov. 15.
* Chinese airlines were among the biggest percentage losers
on a day of fears about diminished demand for air travel. Air
China slumped 9.8 percent, China Southern Airlines
and China Eastern Airlines each dived more
than 8 percent. Hong Kong's Cathay Pacific Airways
fell 4.1 percent to its lowest since September.
* Traders said the losses was exacerbated by an exit of
funds from the territory following the Bank of Japan's
unprecedented aggressive monetary easing announced on Thursday,
a day Hong Kong markets were shut for a holiday.