Hong Kong shares post 5th weekly gain, but lose some steam
April 17 (Reuters) - Hong Kong stocks fall on Friday but had a fifth straight weekly gain, thanks to hopes of further money inflows.
The Hang Seng index slipped 0.3 percent, to 27,653.12, while the China Enterprises Index lost 1.3 percent, to 14,536.67 points.
For the week, HSI gained 1.4 percent while the HSCE rose 3.9 percent.
The rally in Hong Kong stocks appears to be losing some steam after last week's 7.9 percent jump in HSI and HSCE's 10.5 percent surge.
On Friday, mainland investors used only a bit more than 2 billion yuan ($322.86 million) to buy Hong Kong shares under the Shanghai-Hong Kong Stock Connect scheme, or one-fifth of the 10.5 billion yuan daily quota.
But many believe more Chinese money is on the way.
Invesco Ltd's China fund venture said late on Thursday it has raised 11 billion yuan ($1.77 billion) for China's first mutual fund product to buy Hong Kong stocks under the Connect scheme, confirming an earlier Reuters report.
Among the most actively traded stocks on Hong Kong's main board were Ping Shan Tea, up 5.7 percent to HK$0.06 CCT Land, down 5.0 percent to HK$0.02 and CSPC Pharma , up 6.8 percent to HK$7.99.
Total trading volume of companies included in the HSI index was 3.2 billion shares. (Reporting by Samuel Shen and Pete Sweeney; Editing by Richard Borsuk)
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