Hong Kong shares fell 1.00 percent on Friday, following heavy losses on Wall Street as traders grew increasingly concerned about the Chinese economy and the Ukraine crisis. The benchmark Hang Seng Index slipped 216.59 points to 21,539.49 on turnover of HK$75.47 billion (US $9.73 billion). The losses extended a week-long downward trend for global stocks since the weekend when China posted data showing a surprise trade deficit for February and exports had slumped.
Those weak numbers were compounded Thursday by figures showing industrial production rose at its slowest pace in five years in January and February, while consumer spending saw its weakest increase for three years. Internet giant Tencent tumbled 4.08 percent to HK$564.0, HSBC eased 0.38 percent to HK$77.7 and casino firm Galaxy Entertainment slipped 2.34 percent to HK$71.1.
Energy firm CNOOC edged up 0.35 percent to HK$11.62, Cathay Pacific Airways lost 2.06 percent to HK$15.18 and Henderson Land Development fell 0.48 percent to HK$41.45. In China the benchmark Shanghai Composite Index eased 0.73 percent, or 14.77 points, to 2,004.34 on turnover of 69.9 billion yuan ($11.4 billion). The index dropped 2.60 percent for the week.
The Shenzhen Composite Index, which tracks stocks on China's second exchange, fell 0.39 percent, or 4.16 points, to 1,074.19 on turnover of 89.8 billion yuan. It lost 2.55 percent over the week. Adding to the selling pressure are fears over the country's corporate sector after last week's first ever bond default, which fuelled speculation that other firms could follow suit.
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