SHANGHAI May 12 Hong Kong stocks hovered near
21-month highs on Friday, and posted their biggest weekly gain
in two months, helped by continuous inflows from mainland China.
The Hang Seng index on Friday rose 0.1 percent, to
25,156.34, while the China Enterprises Index gained 0.2
percent, to 10,282.65 points.
For the week, the Hang Seng gained 2.8 percent, while HSCE
rose 2.6 percent.
Sentiment was somewhat hurt by a downbeat day on Wall Street
but Chinese investors on Friday continued to lend support, using
23 percent of the daily quota under the southbound leg of the
Shanghai-Hong Kong Stock Connect to buy Hong Kong shares.
Market performance was mixed, with materials and
utility shares falling, while IT stocks
Shares of China Yongda Automobiles Services Holdings Ltd
slumped over 8 percent to the lowest in nearly five
weeks, after unveiling a $112.9 million share sale plan.
(Reporting by the Shanghai Newsroom; Editing by Richard Borsuk)