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Stocks

Hong Kong stocks fall 2nd straight week despite Friday's gains

Sunny Optical, Geely among biggest decliners in 5-day period; Tencent rebounds

HONG KONG (Nikkei Markets) -- Hong Kong shares posted their second consecutive weekly loss on Friday, as a rally proved insufficient to erase declines recorded earlier in the week.

The Hang Seng Index ended the week 1.5% lower for its first back-to-back weekly losses since April. Forty of its 51 constituents finished the week in the red as investors looking ahead to Christmas and the New Year appeared to take profits after the index scaled 10-year highs last month. The equity benchmark, which climbed 1.2% to 28,639.85 on Friday, is still up more than 30% this year.

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