Hang Seng bounced back from a one-month low in thin trade as investors were still cautious over the policies of China’s new leaders. The benchmark Hang Seng Index added 50.08 points, or 0.24 per cent, to finish at 21,159.01. Turnover stood at HK$47.43 billion, compared to a 30-day average of HK$56 billion. The utilities sector gained most as investors chose to reduce risk amid uncertainties related to China’s new leadership team that was revealed on Thursday. “The make-up of the new Politburo suggests a cautious approach to reform. On the other hand, a more robust tackling of corruption may be on the cards,” Alaistair Chan, economist at Moody’s, said. The onshore market fell further on concern that China's new leaders will roll out limited stimulus to boost the economy. The Shanghai Composite Index lost 0.77 per cent to stand at 2014.73, just a hair above the physiological 2,000 mark. One eye-catching stock of the day was Xinyi Glass Holdings ( 0868.HK) , which gained 2.25 per cent to finish at HK$4.54. The market has been speculating that the firm will have a promising future due to the special family connection between its chairman Lee Yin Yee and Zhang Gaoli, one of the newly-elected seven-member Standing Committee of the Political Bureau. Lee’s elder son is married to Zhang’s daughter. The stock has gained 9.4 per cent during the past 30 days. Li & Fung ( 0494.HK ) dropped by 4.73 per cent to finish at HK$12.06 after analysts from Citi said the market would likely be disappointed at guidance from the company. The market may feel disappointed with the firm after seeing "a challenging macro environment and deflation pressure, additional restructuring expenses in 2H12, and no further acquisitions this year, despite raising US$500m from a bond issue," Citi analyst Eddie Lau wrote in a research report. Tencent ( 0700.HK ) extended its fall on Friday following Thursday’s slump, after its quarterly profit failed to impress investors. The stock lost 0.40 per cent to finish at HK$248.2.