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Hong Kong stocks rise on day, but down for week as N.Korea tensions weigh
September 8, 2017 / 8:31 AM / 15 days ago

Hong Kong stocks rise on day, but down for week as N.Korea tensions weigh

SHANGHAI, Sept 8 (Reuters) - Hong Kong stocks rose on Friday, helped by expectations China’s economic growth will remain solid, but they were still down for the week as investors who worried about North Korea tread warily.

For the day, The Hang Seng index rose 0.5 percent, to 27,668.47 points. The China Enterprises Index also gained 0.5 percent, to 11,149.64 points.

For the week, HSI lost 1 percent, while HSCE was down 1.2 percent.

Financial firms lost 1.9 percent in the week, being the biggest drag on the market following weakness on Wall Street.

Among the biggest gainers, material shares advanced 3.8 percent in the week, thanks to a weaker dollar and solid China economic data.

Developers also rallied strongly, with an index tracking major real estate firms gaining 1.9 percent this week to its highest since early 2008.

Top developer China Vanke jumped 11.7 percent in its best week since December 2015, hovering near a record high, after the firm posted solid sales growth in August.

Reflecting relative strength recently in the mainland market, as well as the impact of a resurgent yuan, an index tracking Chinese shares’ premium over their Hong Kong peers stood at 134.11, around a 14-month high. (Reporting by the Shanghai Newsroom; Editing by Richard Borsuk)

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