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Hong Kong: Shares rise on expectations of Shenzhen-HK Stock Connect

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[HONG KONG] Hong Kong shares rose on Friday, with small- and mid-cap stocks taking the lead, on expectations that regulators will soon launch a cross-boarder investment scheme that will potentially benefit the city's smaller companies.

China's state council, or cabinet, has given the green light to the Shenzhen-Hong Kong Stock Connect, with the scheme likely to be announced as early as this month, Hong Kong's Economic Times reported on Friday.

The Hang Seng index rose 1.1 per cent, to 27,577.34, but for the week, the index fell 2 per cent.

The China Enterprises Index gained 2.0 per cent, to 14,049.66 points.

Total trading volume of companies included in the HSI index was 1.9 billion shares.

REUTERS