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Hong Kong stocks gave up their early gains to edge 0.06 percent lower on Friday, capping a three-day rally, despite another record performance on Wall Street.
The benchmark Hang Seng Index dipped 12.22 points to end at 22,089.05 on turnover of HK$49.88 billion ($6.44 billion). The market had risen 1.8 percent over the previous three days.
US investors provided a positive lead after the Labor Department said new claims for unemployment benefits came in at 346,000 last week, below the forecast 365,000 and a sharp fall from the previous week.
On Wall Street the Dow climbed 0.42 percent and the S&P 500 rose 0.36 percent, both finishing at record highs for a second straight day.
But eyes are on China, which on Monday will release January-March economic growth data, with expectations for 8.0 percent year-on-year expansion, slightly up from the previous three months.
However, Tanrich Securities vice president Jackson Wong said tensions on the Korean peninsula and bird flu on the mainland remain big unknown factors that are capping buying sentiment.
Personal computer maker Lenovo dived 6.1 percent to HK$6.66 after Thursday's 5.8 percent loss after data showed sales of PCs slumping globally.
HKT Trust, a spin-off from Hong Kong telecom operator PCCW, closed down 2.5 percent at HK$7.70.
Among other plays, HSBC edged down 0.06 percent to HK$82.05, while China Mobile was unchanged at HK$82.95 and Sun Hung Kai Properties rose 0.75 percent to HK$107.50.
Chinese shares ended down 0.58 percent. The benchmark Shanghai Composite Index fell 12.77 points to 2,206.78 on turnover of 56.2 billion yuan ($9.1 billion), the lowest close since December 27.
The index dropped 0.83 percent for the week.
Weak sentiment persisted after China said Wednesday that it recorded a rare trade deficit of $880 million in March, indicating the pick-up in the world's second biggest economy remained fragile.
Steel and cement firms were among the biggest losers after the government ordered companies in several sectors to cut production that uses outdated technology and facilities.
Fushun Special Steel lost 4.67 percent to 5.72 yuan, while Shaanxi Qinling Cement dropped 2.94 percent to 5.94 yuan.
Investors continued to sell farming-related stocks due to an outbreak of bird flu. Animal feed and vaccine firm China Animal Husbandry Industry lost 3.63 percent to 13.00 yuan and hog producer Hunan New Wellful slid 0.35 percent to 5.68 yuan.
-- Dow Jones Newswires contributed to this story --