HK stocks hover near 21-month highs

Dhaka,  Fri,  22 September 2017
Published : 12 May 2017, 15:50:54

HK stocks hover near 21-month highs

HK stocks hover near 21-month highs
Hong Kong stocks hovered near 21-month highs on Friday, and posted their biggest weekly gain in two months, helped by continuous inflows from mainland China.

The Hang Seng index on Friday rose 0.1 per cent, to 25,156.34, while the China Enterprises Index gained 0.2 per cent, to 10,282.65 points.

For the week, the Hang Seng gained 2.8 per cent, while HSCE rose 2.6 per cent.

Sentiment was somewhat hurt by a downbeat day on Wall Street but Chinese investors on Friday continued to lend support, using 23 per cent of the daily quota under the southbound leg of the Shanghai-Hong Kong Stock Connect to buy Hong Kong shares.

Market performance was mixed, with materials and utility shares falling, while IT stocks firmed.

Shares of China Yongda Automobiles Services Holdings Ltd slumped over 8.0 per cent to the lowest in nearly five weeks, after unveiling a $112.9 million share sale plan, according to Reuters.
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