Hong Kong shares reached 15-month high on Friday

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Source: Dukascopy Bank SA
© Scanpix/AFP
Hong Kong stocks skyrocketed on Friday as record liquidity injection from the POBC into money markets boosted sentiment. Strong US and Japan equities also lifted Chinese shares. Adding to the positive mood of the Hong Kong equity market, US consumer confidence and private employment beat estimates in October. The Hang Seng Index rallied to 15-month high of 22,111.33. All sectors within the index advanced. The top-gainers were consumer services and industrials. Sands China rallied 6.33% after news that Macau gaming sector climbed 3.2% in October. Among industrials, Citic Pacific and Hutchison Whampoa added 1.91% and 2.19%. Lenders also moved higher on speculation that the government will promote lending to small and medium-sized financial entities by letting them to maintain relatively low RRR. China Construction Bank, Bank of China and Bank of East Asia jumped 0.83%, 1.25% and 2.27%, respectively.


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