Hong Kong stock index suffers biggest weekly loss in 2 months

Hong Kong's benchmark index finished flat on Friday and had its biggest weekly losses in two months, weighed down by underperforming banks and property counters.

The Hang Seng Index closed little changed at 23,233.45, down 1.3 percent on the week - the largest loss since the week ended May 9. The China Enterprises Index of the leading offshore Chinese listings in Hong Kong inched up 0.1 percent. It lost slightly more than 1 percent on the week. Leading the losses on the Hang Seng on Friday was China Resources Power, which sank 3.9 percent, surrendering gains of 3.2 percent on Thursday. Cheung Kong Holdings slipped 0.6 percent following a 2 percent rise the previous session.

The biggest index drag was HSBC Holdings plc, which shed 0.4 percent, while PetroChina climbed 1.1 percent.