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Hong Kong shares close up 0.4 pct, but still suffer 5th weekly loss

Source : REUTERS
Last Updated: Fri, Jun 14, 2013 08:20 hrs

HONG KONG, June 14 (Reuters) - Hong Kong shares rose on Friday as investors piled into high yielding counters that had been battered in recent days, but still ended the week lower for a fifth consecutive time.

The Hang Seng Index climbed 0.4 percent to 20,969.1 after closing on Thursday at its lowest since October. The China Enterprises Index of the top Chinese listings slipped 0.2 percent. This week, they shed 2.8 and 5.1 percent, respectively.

The CSI300 of the leading Shanghai and Shenzhen A-share listings ended up 0.7 percent, while the Shanghai Composite Index inched up 0.6 percent. They slid 2.7 and 2.2 percent, respectively, on the week.

HIGHLIGHTS:

* Hong Kong property developers were among the leading percentage risers among benchmark components. New World Development shares gained 2.4 percent from Thursday's nine-month closing low. Link Real Estate Investment Fund (REIT) jumped 3.2 percent in healthy volumes.

* Aluminum Corporation of China (Chalco) dived 7.5 percent to its lowest close since October 2008 as it exited the China Enterprises Index after the market closed on Friday, replaced by PICC Group, which rose 2.5 percent.




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