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Hong Kong: Shares up 2% as China rebounds, G20 meeting eyed
[HONG KONG] Hong Kong shares rose more than 2 per cent on Friday, buoyed by a rebound in mainland China markets that prompted investors to hunt for bargains after losses in the previous session.
The Hang Seng index surged 2.5 per cent to 19,364.15 points, its best day in nearly two weeks.
For the week, it gained 0.4 per cent despite a loss of more than 3 per cent for China's main benchmark indexes.
The China Enterprises Index ended up 2.1 per cent in the biggest daily gain in more than a week at 8,034.30 points. The index was down 1 per cent for the week.
Investors were eyeing policy messages from G20 finance chiefs and central bankers meeting on Friday and Saturday in Shanghai. Current market turmoil and a global economic slowdown expected to be key topics of discussion.
Among financials, HSBC jumped 3.8 per cent, while AIA rose 2.9 per cent.
Cheung Kong Infrastructure jumped 3.1 per cent after being included in blue-chip Hang Seng index.