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Nikkei Markets

Hong Kong shares suffer weekly drop amid China coronavirus fears

Casinos and airlines retreat as outbreak is expected to hit sectors

HONG KONG (Nikkei Markets) -- Hong Kong shares edged higher on Friday but suffered their first weekly loss in eight weeks, as concerns over the spread of a deadly virus in and around China hurt investor sentiment.

The Hang Seng Index fell 3.8% during the week after adding 0.2% to 27,949.64 on Friday. The index had risen for seven consecutive weeks until last Friday amid indications that Sino-American trade relations were improving. China Mobile jumped 2.5% on Friday, contributing most to the index's gains by points, while Hengan International Group rose 1.5%. The two stocks were the only gainers on the Hang Seng Index during the week.

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