Hong Kong stocks end week lower as coronavirus worries re-emerge

Hong Kong stocks fell on Friday to end the week lower, tracking losses in other markets amid growing concerns over a resurgence of coronavirus infections. ** The Hang Seng index fell 0.7%, to 24,301.38, while the China Enterprises Index lost 1.1%, to 9,832.53 points.

Hong Kong stocks fell on Friday to end the week lower, tracking losses in other markets amid growing concerns over a resurgence of coronavirus infections.

** The Hang Seng index fell 0.7%, to 24,301.38, while the China Enterprises Index lost 1.1%, to 9,832.53 points.

** For the week, HSI lost 1.9%, while HSCE dropped 2.3%.

** Friday's retreat came after the Wall Street tumbled on Thursday over increasing concerns that a resurgence of coronavirus infections could stunt the pace of recovery in economies reopening from lockdowns.

** "Accelerating the slide since the Thursday Asia session had however been reports of a surge in virus cases in pockets of the U.S., triggering fears of a second Covid-19 wave," Jingyi Pan, market strategist at IG in Singapore, wrote in a note.

** At the close of trade, the Hang Seng index was down 178.77 points, or 0.73%, at 24,301.38. The Hang Seng China Enterprises index fell 1.13% to 9,832.53.

** The sub-index of the Hang Seng tracking energy shares dropped 3.4%, while the IT sector dipped 0.18%, the financial sector ended 0.75% lower and the property sector dipped 0.15%.

** The top gainer on the Hang Seng was Wharf Real Estate Investment Company Ltd, which gained 2.68%, while the biggest loser was CNOOC Ltd, which fell 4.64%.

** Around the region, MSCI's Asia ex-Japan stock index was weaker by 1.02%, while Japan's Nikkei index closed down 0.75%.

** The yuan was quoted at 7.0764 per U.S. dollar at 08:16 GMT, 0.18% weaker than the previous close of 7.064.

** At close, China's A-shares were trading at a premium of 26.37% over Hong Kong-listed H-shares.