HONG KONG: Hong Kong shares ended 1.37 percent higher on Friday, boosted by better-than-expected jobs data from the United States.
The benchmark Hang Seng Index rose 250.94 points to 18,629.17 on turnover of HK$28.09 billion ($3.60 billion) as dealers remained on the sidelines ahead of the Christmas break.
The US Labor Department said on Thursday that new claims for jobless benefits fell to the lowest level since April 2008, with fewer layoffs in most states.
The figures beat economists' forecasts, with claims hitting 364,000 last week versus the consensus estimate of 380,000, representing a third straight weekly fall.
China Coal, the best-performing blue chip, was up 3.6 percent at HK$8.67, spurred by peer Yanzhou Coal's 6.6 percent jump after it announced its planned merger with Australia-listed Gloucester Coal.
Mainland developers rose largely due to a technical rebound. China Overseas Land was up 2.9 percent at HK$14.22 and China Resources Land gained 1.9 percent to HK$13.20.
Fashion retailer Esprit bucked the trend, dropping 0.6 percent to HK$10.26 because of its heavy exposure to debt-laden Europe.
Chinese shares closed up 0.85 percent. The Shanghai Composite Index, which covers both A and B shares, was up 18.48 points to 2,204.78 on turnover of 43.5 billion yuan ($6.9 billion).
"A technical rebound is due after so many sessions of falls as valuations are very attractive," Zhang Gang, an analyst from Central China Securities, told Dow Jones Newswires.
"But this isn't due to a positive turn in economic fundamentals. I think the index will have to go through a longer consolidation phase," he added.
Cement makers led the market higher after Beijing set higher completion targets for public housing construction next year.
Fujian Cement soared 9.8 percent to 7.97 yuan, while Tangshan Jidong Cement rose 5.6 percent to 16.89 yuan.
Property developers rose in line with their Hong Kong peers. China Vanke ended up 1.9 percent to 7.56 yuan, and Gemdale Corporation gained 3.1 percent to 4.98 yuan.
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