Hong Kong Stocks End The Week On A Strong Note

Hong Kong stocks ended the week on a high on Friday as traders took heart from the further easing of lockdown measures around the world and signs the worst of the economic impact may have passed.

The Hang Seng Index climbed 0.7 percent, to 24,643.

On the mainland, the Shanghai Composite Index rose 1 percent, to 2,967 and the Shenzhen Composite Index jumped 1.2 percent, to 1,931.

After a slow start to the day, most other Asian markets pushed higher to end the week on a healthy note.

Tokyo put on 0.6 percent, while Sydney edged 0.1 percent higher.

Mumbai jumped 0.9 percent, Seoul added 0.4 percent and Jakarta and Wellington were 0.3 percent stronger, though Singapore and Manila slipped.

"Local investors will feel encouraged by Chinas rapid response to curtailing the virus spread in Beijing, something that we will likely see across the region when other small outbreaks emerge," said Stephen Innes at AxiCorp.

"Great for consumer confidence, knowing that the small outbreaks are quickly contained while the practice of social-distancing measures will keep the curve flat until a vaccine is in hand." (AFP)