Hang Seng posts weekly gains

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Source: Dukascopy Bank SA
Hang Seng advanced on Friday on positive economic data from China and Japan. The index climbed 1.4%, or 320.51 points, to close at 23.091.95. All but one sector posted at least 0.9% rally, as 43 out of 50 blue chip companies composing the benchmark index edged higher. The best performing sectors were basic materials and consumer goods. Want Want China Holdings Ltd added 6.3%, as it posted 32% record high surge in its profit for 2012. China Shenhua Energy Co Ltd rose 3.9% to $29.55 to lift oil and gas group. The third best advance of 3.4% was for China Coal Energy Co Ltd. Utilities sector was the only sector tumbling. China Resources Power Holdings Co. Ltd. retreated 1.6%, even though it was named as the best energy company in China. New World Development Company Limited followed with a 1.3% decrease. The share price of Sun Hung Kai Properties Limited contracted by 1.1%.

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