Hang Seng falls as Chinese economy advances slower

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Source: Dukascopy Bank SA
Hong Kong shares retreated on Friday, as analysts expect the Chinese economy to grow slower than expected in January-March. The Hang Seng Index lost 0.1%, or 12.22 points, to 22,089.05. Utilities and financials increased the most by adding 0.6% and 0.1%, respectively. Esprit Holdings Ltd, a manufacturer and retailer of fashion clothes, surged 1.7% to HK$9.99. Furthermore, Henderson Land Development Co Ltd jumped 1.3% to HK$55.05, as the company's chairman Lee Shau-Kee increased his stake in the company in March. China Resources Power Holdings Co Ltd climbed 1.3% to HK$24.20, capping further decline in basic materials sector. On the downside, Lenovo Group Ltd traded down 6.1% to HK$6.66, showing the highest decrease in its share price since June. COSCO Pacific Ltd plummeted 3.2% to HK$10.22. Kunlun Energy Co Ltd followed with a 1.8% plunge to close at HK$16.22.
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