Hong Kong shares extended gains to end firmer on Friday, scoring its best week in three months, as capital outflow worries eased after the US dollar took a breather from its post-election rally. The benchmark Hang Seng index finished 0.2 percent higher, at 22,503.01 points, bringing its weekly gain to nearly 2.3 percent, the highest since October 7.
The Hong Kong China Enterprises Index gained 0.1 percent, to 9,611.05 points. Traders attributed the market's bounce the previous session to a pullback in the dollar after the Federal Reserve's minutes signalled a more prudent stance to interest rate hikes rather than a surge in offshore yuan. Reflecting less investor anxiety in the city, the HIS Volatility Index, a gauge of market stress, lost 18.5 percent from a high set on December 28. Sector performance was mixed in Hong Kong. The energy sector gave back some early gains and added nearly 0.5 percent at the close, with weakness in mainland miners offsetting the bullish effect from recently stronger oil prices.
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