Shares in Hong Kong extended decline on Friday as signals of worsening global economic recession damped traders' willingness to invest in higher yielding assets. Hang Seng index faded 1.39% or 267.05 points and finished at 18,994.82. Financials posted substantial losses within the index. Agricultural Bank of China lost 1.3% and heavyweight HSCB Holdings shed 1.1% as it was one of lenders downgraded by Moody's. Commodities shares also pulled back with Zhaojin Mining Industry dropping 3.1%.