Hong Kong stocks fell for a third straight session on Friday as investors squared positions ahead of a key US monthly jobs report and while mainland China markets remained closed.
The Hang Seng Index ended the day 0.5 per cent lower at 20,840.61, the lowest close since July 9, 2013. The blue chip index finished the week down 3.6 per cent, its seventh consecutive week of decline.
The China Enterprises Index lost 1.4 per cent on the day to 9,169.59 points, also its lowest close since July 9, 2013. The index fell 6 per cent for the week, and has had four straight weekly drops.
Nervousness ahead of the US Labor Department’s monthly jobs report on Friday and what it may mean for the Federal Reserve’s interest rate outlook caused stock investors to cash in positions. Analysts said players were unwilling to take risk amid so many uncertainties.
Among blue chips, PetroChina was the biggest loser in percentage terms, falling 3.7 per cent. It was followed by China Petroleum & Chemical Corp, which declined 3.4 per cent. Ping An Insurance was down 3.3 per cent.
Hong Kong was closed on Thursday for a holiday. China markets, closed on Thursday and Friday, reopen on Monday.