HONG Kong shares fell 0.39 per cent on profit-taking on Friday after the previous session's gains, with dealers unmoved by data showing Chinese inflation coming in below target in 2012.
The benchmark Hang Seng Index eased 90.24 points to 23,264.07 on turnover of HK$82.24 billion ($A10.03 billion). The index lost 0.3 per cent for the week.
The market enjoyed a rally on Thursday after China released data showing a huge trade surplus last year, which added to recent results indicating the world's number two economy is picking up after a recent slowdown.
On Friday the National Bureau of Statistics (NBS) said inflation slowed to 2.6 per cent in 2012, down from 5.4 per cent in 2011 and much lower than the 4.0 per cent government target.
But it also said December's rate came in at 2.5 per cent, well up from 2.0 per cent in November.
The month-on-month uptick and underlying data showing food prices spiking has led to concerns that the government will hold off any easing measures to further boost the economy.
China players were among the worst performers, with aluminium producer Chalco down 3.0 per cent at HK$3.95, while oil producer Cnooc lost 1.9 per cent to HK$16.22 and insurer China Life dropped 1.3 per cent to HK$26.00.
Chinese shares closed down 1.78 per cent. The benchmark Shanghai Composite Index lost 40.66 points to 2,243.00 on turnover of 101.6 billion yuan ($16.3 billion). The index fell 1.49 per cent for the week.
"The above-view inflation figure for December sparks concerns that Beijing may refrain from rolling out more economic stimulus in fear of triggering stronger inflation," Central China Securities analyst Zhang Gang told Dow Jones Newswires.
Soochow Securities slumped 6.08 per cent to 7.42 yuan and Sinolink Securities lost 5.04 per cent to 16.59 yuan, while Poly Real Estate lost 4.52 per cent to 13.53 yuan and developer Gemdale dropped 4.09 per cent to 6.81 yuan.
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