Hong Kong: Stocks end up on bargain hunting

[HONG KONG] Hong Kong stocks ended modestly higher on Thursday as investors hunted for bargains after sharp losses earlier this week.

Casino stocks and financials outperformed, though trading was light due to a holiday in mainland China and ahead of a three-day weekend in Hong Kong.

The Hang Seng index ended 1 per cent higher at 23,416.80 points, with a sub-index of financial stocks up 1.3 per cent.

But the HSI ended down 3.2 per cent on the week as fears of a US interest rate hike in coming months roiled global markets.

The Hong Kong China Enterprises Index rose 0.6 per cent to 9,595.73, but fell 4.6 per cent on the week.

The city's financial markets will be closed on Friday for the mid-Autumn Festival. Trading resumes on Monday.

REUTERS