Hong Kong shares fall for 3 straight weeks amid China worries

Hong Kong shares fell for a third straight week, with the main index hitting a two-month low on Friday, as worries mount over economic growth in the city and China.

The Hang Seng index fell 1.0 percent, to 19,719.29, recording a weekly loss of 1.9 percent. The China Enterprises Index lost 1.3 percent, to 8,301.39 points.

There are rising concerns that China’s pick-up in economic activity is losing steam, amid signs Beijing may not loosen monetary policy to stimulate growth.

Sentiment was not helped by expectations that Hong Kong’s economy probably grew at its weakest annual pace in four years in the first quarter, hurt by China’s slowdown, weak retail sales and falling asset prices.

Most sectors in Hong Kong dropped, with energy and tech shares leading the decline.

Source: Reuters