Hong Kong stocks close sharply higher

HONG KONG: Hong Kong stocks ended another strong week on a positive note Friday as traders welcomed data showing US inflation slowing further in December, raising hopes the Federal Reserve would ease back in its monetary tightening drive.

The Hang Seng Index rose 1.04 percent, or 224.56 points, to 21,738.66.

Hong Kong shares kick off with gains

The Shanghai Composite Index rallied 1.01 percent, or 31.86 points, to 3,195.31, while the Shenzhen Composite Index on China’s second exchange climbed 0.90 percent, or 18.38 points, to 2,067.16.