Weak U.S data, lower oil drag HK shares down 2 pct

*Shanghai Electric tanked on expected margin erosion *Chalco tumbles on alumina price cut *Declining stocks outnumber advancers 575 to 133 Hong Kong shares started August on a weak note, sliding 2 percent on Friday with disappointing U.S. economic data, including second-quarter GDP and jobless claims, adding to fears of recession in the world’s largest economy. Shares in Shanghai Electric Group Co Ltd (2727.HK: Quote, Profile, Research, Stock Buzz), China’s top power generation equipment ma

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