By V. Phani Kumar
HONG KONG (MarketWatch) -- Hong Kong shares posted modest early losses Friday, as banks and some local property developers tracked overnight gains on Wall Street higher, but the rise was limited by extended losses in Chinese coal producers on worries about price caps by Beijing. The Hang Seng Index (HK:HANGSENG 23,480, +31.14, +0.13%) rose 0.2%, while the Hang Seng China Enterprises Index was flat at 13,089.12 amid choppy trading on mainland bourses. Heavyweight HSBC Holdings PLC (HK:5 80.65, +0.55, +0.69%) (HBC 52.02, +0.52, +1.01%) gained 0.6% and Sun Hung Kai Properties Ltd. (HK:16 132.50, +2.20, +1.69%) (SUHJY 16.89, -0.09, -0.53%) rose 1.8%. China Shenhua Energy Co. (CSUAY 43.91, +1.69, +4.00%) (HK:1088 30.80, -0.80, -2.53%) lost 2.9% and China Coal Energy Co. (HK:1898 11.70, -0.34, -2.82%) (CCOZY 0.00, 0.00, 0.00%) gave up 2.8% after Beijing announced a freeze in contract prices for coal in 2011 as part of efforts to curb inflationary pressures. Sands China Ltd. (HK:1928 17.02, -0.38, -2.18%) (SCHYY 22.13, -0.62, -2.73%) dropped 3% after the Macau government rejected its application to acquire land rights there. China's Shanghai Composite Index (CN:SHCOMP 2,840, -3.53, -0.12%) was down 0.1% at 2,840.87 after moving in both directions.
