Hang Seng Index hits three months high
Hong Kong shares jumped 0.84 per cent on Friday to their highest level in more than three months following strong bond sales in France and Spain as well as upbeat US jobs figures.
The benchmark Hang Seng Index added 167.42 points to 20,110.37 on turnover of HK$65.96 billion ($A8.13 billion). The market last closed above 20,000 points in early November.
Financials in Hong Kong were also lifted by strong bank earnings on Wall Street.
Successful bond auctions in France and Spain Thursday and the recent string of positive economic data in the U.S. boosted market sentiment. The Dow Jones Industrial Average rose 0.4% to 12623.98, as jobs data and better-than-expected bank-earnings reports helped maintain the recent rally.
Banking heavyweight HSBC jumped 3.7% to HK$64.55, on the back of an improved global economic outlook as well as easing concerns about the European debt crisis. U.K.-based Standard Chartered ended 4.2% higher at HK$186.40.
Sportwear retailer Li Ning surged 8.5% to HK$7.29 on news that it has agreed to sell US$119 million in convertible bonds to U.S. buyout firm TPG Group and Singaporean sovereign-wealth fund Government of Singapore Investment Corp.
Jewelry retailer Luk Fook fell 7.9% at HK$29.80, following a shares placement to raise HK$1.36 billion Thursday.
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