Hong Kong Stocks Close Higher

Hong Kong stocks closed higher on Friday as bargain hunters moved in following the previous day's heavy losses.

The Hang Seng Index climbed 0.7 percent, or 191 points, to 27,344.

Turnover was HK$186.8 billion.

Tech shares bounced back, with Xiaomi jumping more than five per cent and Meituan rising more than four per cent. Tencent added two per cent.

Across the border, the benchmark Shanghai Composite Index edged down 0.04 per cent, while the Shenzhen Component Index dropped a quarter of a percent.

Regional markets were mostly lower on renewed concerns over the threat from coronavirus variants to the global economic recovery.

Tokyo closed 0.6 percent lower while Seoul and Taipei were down more than one percent each. (Additional reporting by AFP)