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Hong Kong stocks trim weekly advance as heavyweights retreat

Apple suppliers among worst performers in 5-day period; casinos top gainers

HONG KONG (Nikkei Markets) -- Hong Kong stocks pared their first weekly gain in three weeks on Friday, as concerns related to U.S. tax cuts dragged on heavyweights such as Tencent Holdings and HSBC Holdings.

The Hang Seng Index lost 1.1% to 28,848.11 on Friday, pulling back its weekly gain to 0.7%. Social-media and gaming major Tencent sank 2.1% and U.K.-based lender HSBC slid 1.3% on Friday as regional markets tracked U.S. equity losses overnight on renewed uncertainty over the outlook for U.S. tax reform, stemming from Republican Senator Marco Rubio's stance against the legislation in its current form. The Nikkei Asia300 Index of regional companies outside Japan gave up 0.4% on Friday.

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