Hong Kong'a key index posts strong gain

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HongKong111

Hong Kong - Hong Kong's benchmark index produced its best week in more than eight months on Friday, although it finished slightly lower on the day due to consolidation in the financial and property sectors.

The Hang Seng Index closed down 0.1 percent at 22,712.91 points, but rose 3.9 percent in its strongest week since September 6, 2013.

The China Enterprises Index of the leading offshore Chinese listings in Hong Kong was down 0.2 percent, and 2.8 percent higher on the week.

Among rising stocks in Hong Kong was property developer Greentown China Holdings Ltd, which jumped 2.8 percent after fellow developer Sunac China Holdings Ltd said it was in talks to buy 30 percent of the company.

Sunac shares were down 6.5 percent.

Property stocks erased some weekly gains as investors started to take profit, with China Overseas Land & Investment Ltd down 1.7 percent. - Reuters



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