Investors booking profits after the recent rally has led the Hong Kong shares divest the early gains on May 16.however, the benchmark index may still give its best week in more than eight months.China stocks moved down marginally as investors were nervous on the expected restart of initial public offerings (IPOs) and the likelihood of a slowdown in the Chinese economy.
The Hang Seng Index was down 0.7 % at 22,583.79 points, which was well above the 3.3 % level for the week.The China Enterprises Index of the top Chinese listings in Hong Kong slumped down by 0.7 %, while it was 2.2 % up for the week.
The Shanghai Composite Index moved down by 0.3 %, while it was up by 0.4 % for the week.
Analysts predict that the substantial correction in New York overnight led to the narrow declines in Hong Kong.
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