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Hong Kong stocks flat for the week; Tencent hits all-time high
May 19, 2017 / 8:22 AM / in 5 months

Hong Kong stocks flat for the week; Tencent hits all-time high

SHANGHAI, May 19 (Reuters) - Hong Kong stocks edged up on Friday, ending the week roughly flat, as Chinese money continued to flow into the city’s share market, while index heavyweight Tencent closed at an all-time high.

Sentiment was also aided by an overnight recovery on Wall Street amid political troubles in Washington.

The Hang Seng index rose 0.2 percent, to 25,174.87, while the China Enterprises Index was unchanged at 10,267.39 points.

For the week, the indexes were roughly flat.

The market has been hovering near 21-month highs, as Chinese money poured into Hong Kong stocks. On Friday, mainland investors used 25 percent of the daily quota under the Shanghai-Hong Kong Stock Connect to buy Hong Kong equities.

Most sectors rose on Friday, with IT and property shares among the leading gainers.

An index tracking mainland developers rebounded more than 3 percent. (Reporting by the Shanghai Newsroom; Editing by Jacqueline Wong)

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