Hong Kong reaches high

Comment on this story

Shanghai - Hong Kong's benchmark index closed at its highest level since November 2010 on Friday, pushed up by index heavyweight China Mobile after official media said the telecom giant would increase investment in instant messaging service Fetion.

The Hang Seng Index ended up 0.6 percent at 24,954.94 points, the highest close since November 8, 2010.

It gained 2.6 percent this week.

The China Enterprises Index of the leading offshore Chinese listings in Hong Kong was up 0.3 percent for the day and rose 2.5 percent this week.

China Mobile jumped 5.6 percent on Friday.

Most analysts saw little room for further index rises given concerns about company results and the Chinese economy.

A rally in mainland shares beginning in July, which saw the CSI300 gain more than 10 percent at one point, has flattened out following weak Chinese July economic indicators. - Reuters

sign up

Comment Guidelines

  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.

  5. Verified email addresses: All users on Independent Media news sites are now required to have a verified email address before being allowed to comment on articles. You are only required to verify your email address once to have full access to commenting on articles. For more information please read our comment guidelines