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Hong Kong shares close at 5-month low on outflow worries
December 23, 2016 / 8:22 AM / a year ago

Hong Kong shares close at 5-month low on outflow worries

SHANGHAI, Dec 23 (Reuters) - Hong Kong stocks fell for the second consecutive week, closing at a five-month low on the last trading day before the Christmas break, as rosier U.S. growth data deepened fears of money flowing out of emerging markets.

The Hang Seng index fell 0.3 percent, to 21,574.76, the lowest closing level since mid-July. The China Enterprises Index lost 0.2 percent, to 9,181.75 points.

For the week, Hang Seng was down 2 percent, and HSCE lost 2.4 percent.

Trading was lacklustre as the Hong Kong market will be closed on Monday and Tuesday for Christmas.

Most traders retain positive bets on the U.S. dollar, particularly after upbeat economic data, including an upward revision to third-quarter economic growth on Thursday.

Bright U.S. growth prospects could potentially lure capital out of emerging markets. Indeed, currencies in emerging Asia have been hit hard by worries of money being sucked out toward U.S. dollar-based assets.

The energy sector was among the biggest decliners in Hong Kong, down over 1 percent. (Reporting by Samuel Shen and John Ruwitch; Editing by Shri Navaratnam)

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