Hong Kong shares end down 0.2 pct, still have 2nd weekly gain
Sept 13 (Reuters) - Hong Kong shares slipped for a second day, as Chinese coal and other material counters extended losses after Beijing unveiled major measures to tackle air pollution that involve slashing coal consumption.
The Hang Seng Index closed down 0.2 percent at 22,915.3 points, trimming its weekly gain to 1.3 percent. The China Enterprises Index of the top Chinese listings in Hong Kong sank 0.9 percent, but climbed 2 percent this week.
Both indexes had a second straight weekly gain.
Sun Hung Kai Properties shares, which closed on Thursday at their highest since Aug. 19, sank 1.4 percent. The world's second-largest property firm by market value posted a 14 percent fall in full-year underlying profit, lagging forecasts.
UBS analysts downgraded their rating for China Shipping Development shares from "buy" to "neutral," sending its shares sinking 6.5 percent. Other shipping stocks also sank Friday after UBS said the recent surge in freight rates and potential policy support for the sector have already been priced in.
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