Hong Kong shares close up, buoyed by U.S. optimism

HONG KONG Fri Dec 19, 2014 1:38pm IST

HONG KONG Dec 19 (Reuters) - Hong Kong shares finished up on Friday, climbing for a second day heartened by the prospect that U.S. interest rates will stay low for a while.

Asian share markets broadly extended gains after the Federal Reserve gave an upbeat economic assessment the day before, saying it would take a "patient" approach to raising rates.

It was also typical for market sentiment to have a positive tone towards the year-end, said Ben Kwong, head of research and director of KGI Asia in Hong Kong.

The Hang Seng index rose 1.3 percent, to 23,116.63 points, while the China Enterprises Index gained 0.6 percent, to 11,400.19 points.

For the week, the HSI fell 0.6 percent, while the HSCE rose 1.5 percent.

Among the most actively traded stocks on Hong Kong's main board were CCT Land Holdings Ltd, unchanged at HK$0.02 G-Resources Group Ltd, up 1.7 percent at HK$0.18 and China Construction Bank Corp, up 1.0 percent at HK$6.12.

Chinese investment flowing from Shanghai into Hong Kong through the mutual market access pilot programme took up 0.25 billion yuan ($40.19 million) of the 10.5 billion yuan daily quota.

Total trading volume of companies included in the HSI index was 2.3 billion shares.

($1 = 6.2200 Chinese yuan) (Reporting by Shanghai Newsroom; Editing by Jacqueline Wong)