China H Shares Pare Weekly Gain as Banks Drop; Oil Stocks Climb
- Funds are on the sidelines after recent rally, Hengsheng says
- Southbound flows this week more than twice 2016 daily average
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Chinese shares in Hong Kong fell, trimming a weekly gain by the benchmark index, as banks and brokerages declined.
The Hang Seng China Enterprises Index dropped 1 percent at the close, paring its weekly advance to 2.1 percent. Industrial & Commercial Bank of China Ltd. and China Galaxy Securities Co. retreated at least 1.8 percent. China Unicom Hong Kong Ltd. jumped the most in a month after Goldman Sachs Group Inc. raised its rating to buy. China Petroleum & Chemical Corp. capped its biggest weekly increase in two months to lead energy producers as crude traded above $45 a barrel. The Shanghai Composite fell 0.3 percent.