Hong Kong stocks ended higher on Friday to post their third weekly gain in a row, as investors cheered fresh policy support and upbeat data that pointed to China's economic recovery from the coronavirus crisis.[SHANGHAI] Hong Kong stocks ended higher on Friday to post their third weekly gain in a row, as investors cheered fresh policy support and upbeat data that pointed to China's economic recovery from the coronavirus crisis.
The Hang Seng index rose 0.9 per cent to close at 24,386.79, while the China Enterprises Index , the index tracking mainland firms listed in Hong Kong, gained 1.6 per cent to 9,914.90. Financial firms led the gains on Friday, with the Hang Seng financials index closing up 1.9 per cent. For the week, HSI gained 1.1 per cent, while HSCE added 3.1%, both posting their third straight weekly gains.
Investors cheered latest upbeat trade data showing China's imports grew at their fastest pace this year in September. New bank loans grew more than expected last month, fuelled by a jump in corporate loans.