Update | Hong Kong stocks end the week on a positive note, shrugging off North Korea threat
The Hang Seng Index registers a 0.5 per cent advance for the week
Hong Kong stocks ended higher on Friday, bringing its weekly gain to 0.5 per cent, as investors shrugged off North Korea’s latest missile launch.
Mainland Chinese stocks retreated on the back of weak August economic data.
The Hang Seng Index rose 0.1 per cent, or 30.39 points, to 27,807.59. The benchmark has consolidated between 26,400 and 28,100 over the past two months, having surged more than 25 per cent since the beginning of this year.
The Hang Seng China Enterprises Index, known as the H-share index, dropped 0.3 per cent, or 33.59 points, to 11,067.55. Daily turnover stood at HK$117.8 billion, up 21 per cent from Thursday.
“Market sentiment remains relatively supported, despite the North Korea missile launch,” said Alex Wong Kwok-ying, director at Ample Finance.
Pyongyang’s latest missile was fired over Japan on Friday, the second in two months, following its sixth nuclear test on September 3.
Mainland property developers led the advance, as official government data showed housing sales and investment remained among the country’s few areas of growth acceleration in August.