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Hong Kong Stocks Surge on Gains of US Stock Market
Hong Kong's stocks surged 2.68 percent Friday on the back of Thursday's sharp gains on the Wall Street.
The benchmark Hang Seng Index went up 322.90 points, or 2.68 percent, to close at 12,386.61, after its lowest intraday level since October 1999 on Wednesday. Hong Kong market was closed on Thursday for a public holiday.
The day's market turnover was 8.698 billion HK dollars (1.115 billion US dollars), slightly up from Wednesday's 7.835 billion HK dollars (1.004 billion dollars).
Of the four sub-indices, Finance, Utilities and Commerce & Industry gained 1.67 percent, 1.89 percent and 4.79 percent, respectively, while Properties lost 0.49 percent.
China-related stocks ended up with the Hang Seng China Enterprises Index rising 0.65 percent and Hang Seng China- Affiliated Corporations Index increasing 0.82 percent.
The Hang Seng IT Index increased by 8.89 percent and the Hang Seng IT Portfolio Index went up 4.00 percent.
Hong Kong stocks were up 382.53 points, or 3.17 percent to open at 12,446.24 and rose 420.88 points, or 3.49 percent, to close the morning session at 12,484.59 Friday.
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