Shares in Hang Seng Bank, a unit of HSBC, fell for a second day on concerns that Hong Kong’s second-largest lender by assets would be affected by its exposure to Washington Mutual, the failed US bank.

Hang Seng fell 5.9 per cent on Friday, extending its 8.9 per cent loss on Thursday. Although the lender said its exposure to WaMu was “immaterial”, the plunge wiped out HK$39.4m of the bank’s market capitalisation in two days.