HK, Mainland Markets Finish The Week With Gains

Hong Kong and mainland markets have closed the week with marginal gains, with investors optimistic towards a new coronavirus vaccine but concerned about an increasing number of Covid cases around the world.

The Hang Seng Index jumped by as many as 200 points during Friday's trade. But the benchmark index later pared the gains to close 94 points or 0.3 percent higher at 26,451.

Turnover was HK$132 billion dollars.

E-commerce giants Alibaba and Tencent each earned more than 2 percent, while Geely Automobile rose close to 2 percent.

Markets across the border also inched up slightly, led by materials and machinery stocks.

The Shanghai Composite Index put on 0.4 percent and the blue-chip CSI300 index closed 0.3 percent higher.

Across the region, Japan fell for a third consecutive session and lost 0.4 percent, weighed down by concerns that officials would soon impose new restrictions on business activities because of a rise in new coronavirus cases.

But Seoul rose marginally, extending their winning streak to a third day.

Singapore also reported gains, but Taiwan and Australia were flat.