Hong Kong shares rise, achieve biggest weekly gain in a year

PUBLISHED : Friday, 06 September, 2013, 1:55pm
UPDATED : Friday, 06 September, 2013, 4:47pm

Hong Kong shares closed at their highest since late May on Friday and posted their biggest weekly gain in a year, ahead of key economic data from the United States and China in coming days.

The Hang Seng Index finished up 0.1 per cent at 22,621.2 points, its highest closing level since May 28. The benchmark had a weekly gain of 4.1 per cent, its biggest since the week that ended September 14, 2012.

The China Enterprises Index of the top Chinese listings in Hong Kong slipped 0.1 per cent on the day, but jumped 5.2 per cent on the week.

US labour data for August will come out later on Friday. Beijing is due to release August trade data on Sunday, inflation on Monday, then industrial output, retail sales and urban investment on Tuesday. Money supply and loan growth data is expected from Sunday.