Hong Kong: Shares end 1.22% higher

[HONG KONG] Hong Kong stocks rose 1.22 per cent on Friday, soaring almost eight per cent in three days as mainland investors turn their attention to relatively cheap assets after a year-long rally in Shanghai.

The benchmark Hang Seng Index climbed 328.00 points to 27,272.39 on turnover of HK$221.15 billion.

In mainland China the benchmark Shanghai Composite Index jumped 1.94 per cent, or 76.78 points, to 4,034.31 - the highest close since March 12, 2008 - on turnover of 668.5 billion yuan.

The Shenzhen Composite Index, which tracks stocks on China's second exchange, rose 2.49 per cent, or 52.14 points, to 2,149.11 on turnover of 565.4 billion yuan.

AFP