Hong Kong and Shanghai rise on Fed hopes, China stimulus talk

[HONG KONG] Hong Kong and Shanghai shares ended the week on a high Friday as investors bet the Federal Reserve will delay a US interest rate hike and China will unveil a fresh round of economic stimulus measures soon.

In Hong Kong, the Hang Seng Index added 0.78 per cent, or 179.20 points, to 23,067.37 - 2.6 per cent higher that the end of last week.

Shanghai stocks rose 1.60 per cent ahead of the release Monday of third-quarter growth data. The city's benchmark composite index added 53.28 points to 3,391.35. The index gained 6.54 per cent over the week.

The Shenzhen Composite Index, which tracks stocks on China's second exchange, rose 1.32 per cent, or 25.68 points, to 1,966.96 - jumping 8.57 per cent since last Friday.

AFP