Hong Kong shares rose on POBC move

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Source: Dukascopy Bank SA
© Scanpix/AP

Hong Kong equities extended previous gains on Friday ahead of 10-day long holiday. Chinese stocks continued to draw strength from recent injection of liquidity by the POBC. Moreover, positive headlines from eurozone pushed Chinese blue chips higher. The Hang Seng Index advanced by 0.38% to close at 20,840.38. Eight out of nine sectors included in the index surged. The biggest gains posted consumer goods and basic materials. Want Want China Holdings and China Resources Enterprise rose 1.02% and 0.19% while Aluminum Corp of China (CHALCO) climbed 1.58%. Meanwhile, lenders were mixed, with Bank of Communications adding 0.19% and Bank of East Asia dropping 0.34%. Capping gains of the Hong Kong share index, telecommunications fell 0.20%. China Mobile tumbled 0.29%.

 

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