Hong Kong shares end down 0.7 pct, Li & Fung hammered

HONG KONG, Aug 10 (Reuters) - Hong Kong shares closed out their best week in almost a month on a weak note, dragged down by a record loss for Li & Fung Ltd after the global supply chain manager posted a fall of more than a fifth in its half-year core operating profit.

The Hang Seng Index closed down 0.7 percent at 20,136.1 points on Friday, but showed a rise of 2.4 percent for the week. The China Enterprises Index of the top Chinese listings in Hong Kong finished down 0.6 percent at 9,905.2 points, but rose 2.5 percent for the week.

The Shanghai Composite Index closed down 0.2 percent on the day, but was up 1.7 percent this week at 2,168.8. The CSI300 Index of the top Shanghai and Shenzhen listings shed 0.5 percent on the day but was up 2 percent on the week.

HIGHLIGHTS:

* Chinese export and yuan loan growth data undershot expectations, and while disappointing the data fuelled speculation that the central bank will act soon to stimulate the economy.

* Shares of Li & Fung, supply chain manager for major retailers such as Wal-Mart Stores Inc and Target Corp, dived 19.4 percent after posting on Thursday half-year core operating profit that fell 22 percent and warned that its euro operations remained weak. Their underwhelming results triggered a bunch of broker downgrades, producing Li & Fung's worst-ever daily loss since it listed in 1992. (Reporting by Clement Tan; Editing by Simon Cameron-Moore)