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As Shenzhen Connect launch nears, Hong Kong stocks close at 2-week high

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Hong Kong stocks reached their highest in 1-1/2 months, with the benchmark index closing at a two-week high on Friday, partly aided by steady money inflows from China as a cross-border link will be launched soon.

The Hang Seng index rose 0.5 per cent, to 22,723.45, the highest closing since Nov. 10.

The Hong Kong China Enterprises Index, which tracks Chinese companies listed in the city, posted solid gains, rising 1.2 per cent, to 9,790.23 points, aided by a recovering mainland market.

The market has witnessed relatively strong inflows from Chinese investors via the Shanghai-Hong Kong Stock Connect, as a sister investment link connecting Hong Kong and Shenzhen will be launched soon.

Most sectors rose, with financial and consumer stocks leading the gains.

Paul

The author Paul