Hong Kong equities rallied on Friday as market participants covered short positions after the ECB raised hopes that the bank may integrate further to save the Euro. Hang Seng Index rose 2.02% to end the week at 19,275. Even drop in China's industrial profits for the third month failed to restrict stocks' rally. Financials rose 2.1% as China's government is likely to grant six years for banks to comply with new rules due to come in force next year. Bank of China and Bank of Communications rose 2.11% and 3.31%. At the same time, AIA Group slid 0.2% despite starting the day on the positive note. The third largest Asia's insurer reported higher than expected increase in the new business' value in the first half of 2012.