November 10, 2017 / 8:22 AM / a year ago

Hong Kong shares post solid weekly gain, aided by China inflows

Nov 10 (Reuters) - Hong Kong stocks were roughly flat on Friday, but had a bullish week that saw the benchmark index Hang Seng hit decade-highs, as money inflows from the mainland accelerated.

The Hang Seng index dipped 0.1 percent, to 29,120.92, while the China Enterprises Index was unchanged at 11,745.81 points.

For the week, the Hang Seng gained 1.8 percent, and the HSCE rose 1.2 percent.

The market rise was aided by Chinese money, which has been flowing steadily into Hong Kong stocks via the three-year-old cross-border channel called Connect.

This week, mainland investors accelerated their buying.

At Thursday’s close, net purchases by Chinese buyers for the week approached 9 billion yuan ($1.36 billion) under the Shanghai-Hong Kong Stock Connect - almost double last week’s total and well above the previous weekly average.

Sector performance was mixed on Friday.

Financial and telecom shares shares rose, but energy stocks fell. (Reporting by Samuel Shen and John Ruwitch; Editing by Richard Borsuk)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below