Hong Kong shares jump over 1%

Reuters | | Updated on: Jan 22, 2018

Hong Kong shares jumped more than 1 per cent on Friday, after China’s President Xi Jinping said the economy will not suffer a hard landing.

The Hang Seng index rose 1.3 per cent to 23,151.94, while the China Enterprises Index gained 1.3 per cent to 10,742.04 points.

The main index ended the week up by 0.4 per cent, the fourth consecutive week of gains.

Xi had said on Wednesday during a state visit to Britain that China would avoid a sharp slowdown, though he acknowledged there was some downward pressure on the world’s second-largest economy.

The European Central Bank signalled its readiness to inject more stimulus to stoke the European economy as needed, driving up a global stock rally.

In Hong Kong, all main sectors gained on Friday, with energy sub-index and commodities-related index both up 1.5 per cent.

Published on October 23, 2015
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