Hong Kong shares suffer worst day in 6 months

Hong Kong shares suffer worst day in 6 months
A woman walks through a crowded street market area in Hong Kong on January 3, 2014. Hong Kong's economy grew "moderately" year-on-year in the third quarter of 2013 , officials said, as domestic demand and "resilient" growth in the mainland Chinese market offset a weaker environment in the West.

HONG KONG - Hong Kong shares had their biggest one-day loss in six months on Friday as weakness in global markets, sparked by risk aversion, added to negative sentiment as investors remained concerned about slower economic growth in China.

Dragging down Hong Kong were Chinese financial and energy plays.

The Hang Seng Index closed down 2.2 per cent at a two-week low of 22,817.28 points after its worst day since July 3.

The China Enterprises Index of the top Chinese listings in Hong Kong fell 2.6 per cent to its lowest since mid-November.

On the week, the indexes fell 1.8 and 3.6 per cent, respectively.

Petro China dropped 3.1 per cent to levels not seen since June, while China Shenhua Energy tumbled 4.4 per cent to its lowest in six months.

Property companies were also weak, with Sino Land falling 3 per cent and Hang Lang Properties dropping 3.9 per cent to its lowest in almost two years.

Growth in China's services industry fell to a four-month low in December as business expectations dropped, a survey showed, adding to evidence China's economy lost steam in late 2013.

Earlier this week, two manufacturing surveys also showed factory activities slowed in December.

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