Hong Kong shares largely flat as yuan devaluation fears fade
Aug 14 (Reuters) - Hong Kong stocks were largely flat on Friday, when global markets calmed after China's central bank soothed investor fears triggered by the yuan's shock devaluation earlier in the week.
The Hang Seng index fell 0.1 percent, to 23,991.03, while the China Enterprises Index lost 0.2 percent, to 11,060.06 points.
For the week, the Hang Seng lost 2.3 percent.
China's central bank stunned markets on Tuesday by devaluing the yuan by nearly 2 percent, and the currency fell more the following two days.
But on Friday, the yuan held steady against the dollar after suspected intervention by the central bank, who said on Thursday there was no reason for it to fall further.
Telecommunications and Utility stocks rose while energy and property shares fell.
Shares in Lenovo Group Ltd slumped for the second day, after the Chinese personal computer giant said its quarterly net profit was halved as its mobile division lost nearly $300 million. (Reported by Samuel Shen and Pete Sweeney; Editing by Richard Borsuk)
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