Hong Kong shares closed 0.16 percent higher on Friday, boosted by gains in China consumption stocks, but global economic uncertainties weighed on trading volume.
Hong Kong stocks gained 36.01 points, or 0.16 percent, to close at 23,199.39 on Friday. The benchmark Hang Seng Index traded between 23,147.42 and 23,242.63. Turnover totaled 57.75 billion HK dollars (about 7.43 billion U.S. dollars), down from 63.15 billion HK dollars on Thursday.
The Hang Seng China Enterprises Index rose 12.35 points, or 0.1 percent, to close at 12,947.94.
Two sub-indices all gained ground, with the Commerce and Industry sub-index rising 0.23 percent, and the Finance 0.22 percent. The Utilities lost 0.27 percent, while the Properties fell 0.21 percent.
China consumption stocks performed well, with conglomerate China Resources Enterprise rising 2.8 percent to 31.30 HK dollars and shoe retailer Belle rising 3.1 percent to 15.40 HK dollars as the recent results from the sector suggest China's consumption growth remains strong.
Clothing retailer Giordano ended up 6.4 percent at 5.85 HK dollars, supported by news Cheng Yu Tung, chairman of blue-chip developer New World Development, raised his stake in the company to 15.03 percent from 14.58 percent on Tuesday, according to a disclosure to the stock exchange. The company also announced its first-quarter operating data on Thursday after the market's close, with sales up 26 percent from a year earlier.
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Hong Kong stocks gained 36.01 points, or 0.16 percent, to close at 23,199.39 on Friday. The benchmark Hang Seng Index traded between 23,147.42 and 23,242.63. Turnover totaled 57.75 billion HK dollars (about 7.43 billion U.S. dollars), down from 63.15 billion HK dollars on Thursday.
The Hang Seng China Enterprises Index rose 12.35 points, or 0.1 percent, to close at 12,947.94.
Two sub-indices all gained ground, with the Commerce and Industry sub-index rising 0.23 percent, and the Finance 0.22 percent. The Utilities lost 0.27 percent, while the Properties fell 0.21 percent.
China consumption stocks performed well, with conglomerate China Resources Enterprise rising 2.8 percent to 31.30 HK dollars and shoe retailer Belle rising 3.1 percent to 15.40 HK dollars as the recent results from the sector suggest China's consumption growth remains strong.
Clothing retailer Giordano ended up 6.4 percent at 5.85 HK dollars, supported by news Cheng Yu Tung, chairman of blue-chip developer New World Development, raised his stake in the company to 15.03 percent from 14.58 percent on Tuesday, according to a disclosure to the stock exchange. The company also announced its first-quarter operating data on Thursday after the market's close, with sales up 26 percent from a year earlier.
1 2
Weekly review
May 12
No winners in U.S. hi-tech export controls
May 12
China should view livelihood issues from strategic perspective
May 11
Syria will not be another Libya
May 06
Beijing-Shanghai high-speed railway to launch 10-day trial run
May 14
The week in pictures
May 11
2000-year-old wine unearthed in Henan province
May 11
Scientist: China plans to build lunar research base
May 09
Apple employee, customer reach settlement after Beijing iPad brawl
May 12
Wenchuan Reconstruction: 'Chinese miracle' impresses world
May 12
No winners in U.S. hi-tech export controls
