Hong Kong shares struggle after 5-day rally

HONG KONG (MarketWatch) — Hong Kong shares struggled to rise in early trading Friday after climbing for five straight trading days, and overnight losses on Wall Street, with weakness in Chinese property developers countering continued advances for financial stocks. The Hang Seng Index rose 0.1% to 20,463.46 and the Hang Seng China Enterprises Index slipped 0.1% to 11,404.56. Shares of HSBC Holdings PLC climbed 0.5% and insurer AIA Group Ltd. added 1.1% to stretch gains further amid indications U.S. rates will stay lower for longer. Among decliners, China Overseas Land & Investment Ltd. fell 1.9% and Aluminum Corp. of China Ltd. dropped 0.2%, coming under profit-taking pressure. Mainland Chinese markets remained shut for Lunar New Year holiday.

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