Hong Kong - Hong Kong stocks ended 0.38 percent lower Friday as investors booked profits from a two-day rally, while Shanghai added almost one percent to a near seven year-high on hopes for fresh Chinese stimulus measures.
The benchmark Hang Seng Index lost 93.65 points to 24,375.24 on turnover of HK$116.12 billion ($14.98 billion).
The index started the week on a high, tracking a surge in Shanghai, after Chinese Premier Li Keqiang at the weekend said the government had the armoury to combat a slowdown in the world's number two economy.
His comments fuelled hopes for further monetary easing in Chinese shares, although the HSI saw a slight pull-back on Tuesday.
Buying was given fresh impetus on Thursday after the US Federal Reserve lowered its forecasts for interest rates and economic growth.
The comments poured cold water on expectations for a rate cut by early summer, sending global share markets surging.
In Hong Kong equities on Friday, Tencent eased 1.66 percent to HK$142.60, China Mobile eased 1.75 percent to HK$98.35 and HSBC was 0.23 percent lower at HK$66.45.
PetroChina slipped 0.71 percent to HK$8.37, Cheung Kong lost 0.52 percent to HK$151.60 and insurer AIA gave back 0.41 percent to HK$48.00.
In mainland China, the benchmark Shanghai Composite Index rose 0.98 percent, or 35.05 points, to 3,617.32 on turnover of 651.8 billion yuan ($106.0 billion).
The market has risen more than nine percent in an eight-session winning streak and is now at its highest level since Mid-May 2008.
The Shenzhen Composite Index, which tracks stocks on China's second exchange, rose 1.37 percent, or 25.08 points, to 1,852.94 on turnover of 494.7 billion yuan.
"Policy-wise, Li's comment gave the market a reason to rally," Zheshang Securities analyst Zhang Yanbing told AFP.
Brokerages lead the gains on Friday. On the Shanghai market, Citic Securities surged 8.96 percent to 32.35 yuan while Huatai Securities soared 9.57 percent to 27.24 yuan.
Banks were also higher. In Shanghai, Agricultural Bank of China gained 2.30 percent to 3.56 yuan and China Construction Bank added 1.16 percent to 6.11 yuan.
AFP
