Hong Kong shares closed up 0.31 percent Friday following small gains on Wall Street and after China unveiled some measures to help boost the mainland economy.
The benchmark Hang Seng Index added 67.99 points to 21,968.95 on turnover of HK$44.43 billion (US$5.73 billion).
Extending a week of quiet trade in the Chinese city volume totaled HK$44.43, down from HK$45.33 billion on Thursday. At the start of the week turnover was just HK$38.49 billion, the market’s lowest point since September.
We still believe 22,000 is a kind of resistance
The slow trade has meant hope the market might push the 22,000 points barrier this week prove elusive.
“We still believe 22,000 is a kind of resistance,” Steven Leung, head of institutional sales at UOB Kay Hian, told the Dow Jones Newswires.
Investors, he added, were still in profit-taking mode after the index rallied more than 2 per cent on Tuesday.
Financial shares were one of the few areas that saw some gains.
Mainland bank shares closed mostly higher. China Construction Bank rose 0.4 per cent to HK$5.78 and Bank of China gained 0.3 percent to HK$3.28.