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HK slips two months low

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decline3 March 23, 2012 (Chinavestor) Chinese stocks ended the third week of March on a low tone after China's third largest lender profits fell and manufacturing showed signs of a cool-off. The Shanghai Composite Index (SHA:000001) fell 26.2 points or 1.1% on Friday but is off twice as much for the week. Stocks fell just as much in Hong Kong where the Hang Seng Index (INDEXHANGSENG:.HSI) slid 232.8 points or 1.1% on Friday. Hong Kong's main gauge hit a two moths low after a 3.02% dive this week. China's largest independent power generator, Huaneng Power Int. (HKG:0902) amd China Eastern Airlines (HKG:0670) fell the most for the week among 42 components of the Hang Seng Index (INDEXHANGSENG:.HSI). High oil prices are squeezing out profit from power generators and airliners.

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