Hong Kong shares close up

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HongKong111

Hong Kong - Hong Kong shares inched higher on Friday with Chinese automakers strong after positive January sales data, but they still posted their worst week since November ahead of the Lunar New Year holiday.

The Hang Seng Index closed up 0.2 percent on the day but down 2.1 percent on the week at 23,215.16. The China Enterprises Index of the top Chinese listings in Hong Kong shed 0.3 percent on the day and 4.6 percent this week.

In the mainland, the CSI300 of the top Shanghai and Shenzhen A-share listings ended up 0.4 percent on the day and 1 percent on the week. The Shanghai Composite Index rose 0.6 percent on Friday and 0.6 percent this week.

HIGHLIGHTS:

* The Hang Seng Index's loss this week was its worst in about three months.

* Chinese automakers rose after data showed China's vehicle sales in January jumped 46.4 percent from a year earlier, the strongest pace of growth in almost three years largely due to a low base effect from last year.

* Chinese shippers rose after China's exports and imports surged in January as the first hard data of the year pointed to robust domestic demand and a pick-up in the economy not solely explained by the timing of the Lunar New Year holiday.

WEEK AHEAD:

* Hong Kong markets are shut for a three-day Lunar New Year holiday and will resume trade on Thursday, February 14. - Reuters


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