Hong Kong shares have worst week since mid-June

PUBLISHED : Friday, 23 August, 2013, 2:07pm
UPDATED : Friday, 23 August, 2013, 4:39pm

Hong Kong shares surrendered early gains and edged lower on Friday, dragged by afternoon weakness in Chinese markets as investors stayed cautious ahead of a slew of earnings reports from heavyweight Chinese financials next week.

The Hang Seng Index closed down 0.2 per cent at 21,863.51, while the China Enterprises Index of the top Chinese listings in Hong Kong fell 0.4 per cent.

On the week, both suffered their worst week since mid-June, down 2.9 per cent and 2.8 per cent, respectively.

Agricultural Bank of China, Ping An Insurance, China COSCO and the Industrial and Commercial Bank of China are among companies scheduled to announce earnings next week.