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Hong Kong shares close down 1 pct, China banks weak
April 5, 2012 / 8:09 AM / 6 years ago

Hong Kong shares close down 1 pct, China banks weak

HONG KONG, April 5 (Reuters) - Hong Kong shares ended a holiday-shortened week weaker on Thursday, dragged by the Chinese financial sector as investors took profit on the final trading day before a four-day holiday weekend and ahead of U.S. jobs data on Friday.

The Hang Seng Index ended down 0.95 percent on the day but up 0.18 percent this week at 20,593. The China Enterprises Index of top mainland listings in Hong Kong closed down 1.06 percent on the day but up 0.98 percent this week at 10,744.91.

The Shanghai Composite Index had its best day in two months, finishing up 1.74 percent at 2,302.24, with A-share turnover picking up and at the second-highest in almost two weeks.


* Li & Fung Ltd suffered its seventh loss in eight sessions, sliding 4 percent to the lowest since March 13, hurt by dented hopes of quantitative easing by the U.S. Federal Reserve and ahead of fresh monthly U.S. employment data on Good Friday. It has lost more than 13 percent since hitting a 11-month closing high on March 26.

* Chinese banks were broadly weaker ahead of a slew of China data next week. China’s biggest banks, Industrial and Commercial Bank of China Ltd and China Construction Bank Corp were among the top drags on the Hang Seng Index, losing 1.6 and 2 percent, respectively.


* Hong Kong markets will resume trading next Tuesday after a four-day Easter holiday weekend. Mainland Chinese markets are open Friday and Monday.

* Beijing is expected to report March inflation data on Monday and trade figures on Tuesday. March money supply and loan growth could be announced any time starting Tuesday, while first quarter gross domestic product as well as March investment output and retail sales be posted on Friday, April 13. (Reporting by Clement Tan; Editing by Chris Lewis)

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