By Laura He, MarketWatch
HONG KONG (MarketWatch) — Chinese stocks ended mixed Friday, but Hong Kong shares posted a modest advance for the week, while Shanghai’s benchmark scored its third straight week of gains.
Hong Kong’s benchmark Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI +0.03% ended marginally lower, down less than 0.1%. The index rose 0.5% for the week, adding to a 2.3% rise in the previous week.
Over on the mainland, the Shanghai Composite Index /zigman2/quotes/210598127/delayed CN:SHCOMP +1.40% edged up 0.2%, and finished the week higher by 2%. The index has risen for three weeks in a row, and has jumped nearly 14% since early March.
Among market movers, state-owned energy giant PetroChina /zigman2/quotes/204979431/delayed HK:857 0.00% /zigman2/quotes/206980083/delayed CN:601857 -0.20% dipped 0.1% in Hong Kong, while its Shanghai-listed A-shares declined 2.4%, after the company said a 17% fall in net profit last year was mainly due to “the fall in crude prices.” Major mainland Chinese bank Industrial & Commercial Bank of China Ltd. /zigman2/quotes/201401473/delayed HK:1398 -1.33% /zigman2/quotes/202525815/delayed CN:601398 -0.23% pulled back 1.3% in Hong Kong, while its A-shares edged 0.2% lower in Shanghai, as its 2014 profit increased by a less-than-expected 5%.
In other Asian markets, Japan’s Nikkei Average /zigman2/quotes/210597971/delayed JP:NIK +0.53% extended losses and lost 1%. The index retreated 1.4% for the week, breaking a six-week string of gains. The broader Topix /zigman2/quotes/210598092/delayed JP:180460 +0.47% also settled lower, by 1%.
Elsewhere, Sydney’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +0.41% improved by 0.7%, while Seoul’s Kospi Composite Index /zigman2/quotes/210598069/delayed KR:180721 +0.13% drifted lower by 0.1%.