Hong Kong shares lower, wider Asia trades mixed

Hong Kong stocks pared back morning losses in the afternoon session Friday, though the general tone remained downbeat after Aluminum Corp. of China, or Chalco, announced an aluminum price-cut and the shelving of an Australian mine project, while reports that Bank of China Ltd. will seek to raise up to 60 billion yuan （$8.9 billion） in a rights offer added to concerns over the large number of new shares coming to market.

The Hang Seng Index fell 1.1%, while the Hang Seng China Enterprises Index lost 1.6%. Shares of Chalco were down 2.7% after it shelved an alumina project in Queensland state, pointing to soaring costs and deteriorating market conditions as reasons. Bank of China's Hong Kong-listed shares were suspended at the request of the company Friday, shortly before the start of trade. Elsewhere, the Nikkei Average ended 0.1% higher, the Kospi fell 0.9%, Australia's S&P/ASX 200 ended little changed, and China's Shanghai Composite reversed a 2% drop to trade 0.3% higher in afternoon trade. In other regional action, Singapore's Straits Times was up 1%, Taiwan's Taiex added 1.1% and India traded 0.2% higher in early action.