Hong Kong: Shares end at 4-month high after ECB stimulus

[HONG KONG] Hong Kong shares extended a global rally on Friday to reach their highest level in more than four months after the European Central Bank launched a landmark bond-purchasing stimulus programme to support the euro zone economy.

The ECB said it would purchase 60 billion euros worth of sovereign debt per month from this March until the end of September 2016.

The Hang Seng index ended up 1.3 per cent, to 24,850.45, its highest close since Sept. 8. The China Enterprises Index gained 1.8 per cent, to 12,260.06 points.

Among the most actively traded stocks on Hong Kong's main board were China National Culture Group Ltd, up 30.1 per cent at HK$0.13, Gome, down 4.4 per cent at HK$1.10 and Bank Of China, up 1.4 per cent at HK$4.52.

Chinese investment flowing from Shanghai into Hong Kong through the mutual market access pilot programme took up 0.52 billion yuan of the 10.5 billion yuan daily quota.

Total trading volume of companies included in the HSI index was 2.4 billion shares.

REUTERS