HK shares sink to 17-month closing low
HONG KONG, Sept 5 (Reuters) - Hong Kong shares shed 2.3 percent on Friday, with the main index giving up all the gains made in a stellar 2007 rally as property stocks recorded their biggest single-day falls in nearly 6 months on a broker downgrade.
The benchmark Hang Seng Index .HSI unofficially closed down 464.58 points at 19,924.90, its lowest finish in 17 months.
The index fell 6.3 percent this week following its best weekly gains in five months, on deepened concerns over slowing corporate profit growth in a troubled global economy.
The Hang Seng Index gained 39 percent in 2007, peaking at nearly 32,000 points in October last year.
The China Enterprises Index .HSCE of top locally listed mainland Chinese firms fell 2.4 percent.
(Reporting by Parvathy Ullatil; Editing by Jonathan Hopfner)
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