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Hong Kong stocks close 0.59% lower

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(Globalpost/GlobalPost)

Hong Kong shares finished 0.59 percent lower on Friday owing to concerns over the Chinese economy as well as a liquidity squeeze that has hit the mainland's banks.

The benchmark Hang Seng Index ended down 119.56 points, at 20,263.31 on a turnover of HK$97.17 billion (US$12.53 billion).

Chinese stocks closed down 0.52 percent. The benchmark Shanghai Composite Index fell 10.93 points to 2,073.09 on turnover of 67.4 billion yuan ($11.0 billion). The index lost 4.11 percent for the week.

dan/jta

http://www.globalpost.com/dispatch/news/afp/130621/hong-kong-stocks-close-059-lower