Hong Kong’s Hang Seng index falls nearly 5% for the week; Evergrande shares drop more than 3%

KEY POINTS

Asia-Pacific stocks were mixed on Friday

Shares of China Evergrande Group fell 3.42% on Friday as fears over its debt problems continue to weigh on investor sentiment

The benchmark Hang Seng index in Hong Kong closed 1.03% higher at 24,920.76, recovering partially from heavy losses earlier in the week. Still, the index declined nearly 5% for the week amid regulatory concerns surrounding sectors such as technology and casinos

SINGAPORE — Shares in Asia-Pacific were mixed on Friday, with shares of China Evergrande Group continuing to take a beating.

Shares of China Evergrande Group fell 3.42% on Friday, clawing back from losses after plummeting more than 11% earlier, as fears over its debt problems continued to weigh on investor sentiment.

The benchmark Hang Seng index in Hong Kong closed 1.03% higher at 24,920.76, recovering partially from heavy losses earlier in the week. Still, the index declined nearly 5% for the week amid regulatory concerns surrounding sectors such as technology and casinos.

Mainland Chinese stocks closed higher, with the Shanghai composite up 0.19% to 3,613.97 while the Shenzhen component advanced 0.71% to 14,359.36