Hong Kong---Hong Kong shares ended 0.12 percent lower Friday, a fourth-straight loss, as China's lower economic growth target overshadowed a regional advance and a rally on Wall Street.
The benchmark Hang Seng Index fell 29.04 points to 24,164.00 on turnover of HK$72.53 billion ($9.36 billion). The market lost 2.65 percent over the week. Shanghai gave up 0.22 percent Friday.
In New York all three main indexes ended higher, which provided a platform for most Asian markets, investors in the two main Chinese bourses remained subdued after mainland leaders unveiled its growth goal for the year.
Premier Li Keqiang said Beijing forecast expansion of "approximately seven percent", which would be the slowest in a quarter of a century following last year's 7.4 percent.
The news also outshone the People's Bank of China's decision at the weekend to cut interest rates for the second time in just over three months in a bid to kickstart the sputtering mainland economy.
Eyes are now on the release later Friday of key US jobs data, which will be used to gauge the state of the US recovery and the Federal Reserve's timetable for raising interest rates.
China Unicom slipped 3.03 percent to HK$12.16, Cheung Kong fell 0.65 percent to HK$152.20 and Henderson Land lost 1.16 percent to HK$51.30.
HSBC shed 0.15 percent to HK$67.80 and Sinopec dipped 0.48 percent to HK$6.20.
In mainland China the benchmark Shanghai Composite Index slid 7.29 points to 3,241.19 on turnover of 328.3 billion yuan ($52.4 billion). The index lost 2.09 percent over the week.
The Shenzhen Composite Index, which tracks stocks on China's second exchange, dropped 1.55 percent, or 26.00 points, to 1,651.77 on turnover of 314.9 billion yuan. It rose 1.33 percent for the week.
Sentiment has also been weighed by looming initial public offerings as 23 companies will start selling shares next week, which could divert liquidity.
"The market usually consolidates every time there are new share offerings and stabilises afterwards," Haitong Securities analyst Zhang Qi told AFP.
Media firms and medical equipment makers were among the losers.
Beijing Enlight Media tumbled 7.39 percent to 33.73 yuan in Shenzhen, while Shanghai-listed Shinva Medical Instrument fell 1.55 percent to 38.83 yuan.
In Shanghai, railway firm China CNR jumped 8.01 percent to 14.42 yuan while another rail company, CSR, gained 7.57 percent to 13.64 yuan, after they said a previously-announced merger of the two had won government approval.
AFP
