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Hong Kong: Stocks close 0.84% higher to breach 28,000

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[HONG KONG] Hong Kong shares rose 0.84 per cent Friday, breaching the 28,000-point barrier for the first time in seven years, following a record-breaking lead from Wall Street, and as investors bet on China introducing more stimulus measures.

The benchmark Hang Seng Index added 233.28 points to 28,060.98 - the first time it has ended above 28,000 since December 2007. Turnover was HK$167.40 billion. The HSI was up 1.45 per cent over the week.

However, in mainland China the benchmark Shanghai Composite Index fell 0.49 per cent, or 21.84 points, to 4,392.67 on turnover of 898.5 billion yuan. However, the index gained 2.46 per cent over the week.

The Shenzhen Composite Index, which tracks stocks on China's second exchange, edged down 0.03 per cent, or 0.62 points, to 2,256.36 on turnover of 640.0 billion yuan. It rose 5.62 per cent for the week.

AFP

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