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Hong Kong, Shanghai: Stocks rebound to end on a high
[HONG KONG] Stocks in Hong Kong and Shanghai recovered from early losses Friday to end the day on a positive note as oil prices surged and traders welcomed China's decision to strengthen the yuan's reference rate against the dollar.
In Hong Kong the Hang Seng Index ended up 1.1 per cent, or 215.18 points to 20,199.60.
And the benchmark Shanghai Composite Index gained 0.20 per cent, or 5.58 points, to 2,810.31, while the Shenzhen Composite Index, which tracks stocks on China's second exchange, eased 0.22 per cent, or 3.73 points, to 1,685.24.