Hong Kong: Shares jump as investors expect more money inflows
[HONG KONG] Hong Kong stocks rose on Friday, buoyed by further gains in mainland China markets and expectations of fresh money inflows from Chinese investors.
The Hang Seng index jumped 1.7 per cent, to 27,992.83, posting a weekly gain of 0.6 per cent. The China Enterprises Index rallied 2.1 per cent, to 14,433.36 points.
Lu Wenjie, a strategist at UBS Securities, estimated that Chinese investors could potentially pump 200 billion yuan (S$43 billion) into Hong Kong stocks in the next two to three quarters.
The Chinese government, facing the daunting task of managing a stock market bubble, will likely take steps to channel excessive liquidity into the Hong Kong market, Lu said in a strategy report.
REUTERS
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