Hong Kong: Stocks close higher

HONG KONG equities closed higher on Friday (May 20), with market sentiment boosted by China's decision to lower a key benchmark rate.

The Hang Seng Index rose 2.96 per cent, or 596.56 points, to 20,717.24.

Both the mainland's indexes also closed higher -- the Shanghai Composite Index jumped 1.60 per cent, or 49.60 points, to 3,146.57, while the Shenzhen Composite Index rose 1.59 per cent, or 30.97 points, to 1,983.67. AFP