Hong Kong stocks ended a
bearish week on an upbeat note on Friday after China's producer
prices unexpectedly rose for the first time in nearly five
years, easing some of the pressure on Chinese miners and
The Hang Seng index rose 0.9 percent to 23,233.31
points, while the China Enterprises Index gained 1.1
percent to 9,601.40.
But for the week, the Hang Seng dropped 2.6 percent, its
worst weekly performance in a month.
After a strong third quarter, the Hong Kong market has
recoiled amid a resurgence in global volatility ahead of the
U.S. presidential election in November, an expected U.S.
interest rate hike in December and the start next year of what
are expected to be tough negotiations on Britain's exit from the
Chinese data for September so far has been a mixed bag for
investors. Markets retreated after disappointing export and
import numbers on Thursday, but drew some comfort from pickups
in producer and consumer prices reported on Friday.
Stronger-than-expected producer price data points to higher
profits and gives companies more room to service their debts.
All main sectors rose on Friday, with energy and
financial shares leading the gains.