HK stocks rise on hopes of strong China market reopening

HONG KONG: Hong Kong shares ended higher on Friday, with investors positioning for a strong opening for the mainland China markets after the Lunar New Year break.

Mainland China markets are due to resume trading on Monday.

“Optimism of a recovery in the mainland and the market has more or less discounted the impact from the potential US rate hikes, encouraging investors to position themselves for a strong start to the China market reopening,” said Steven Leung, sales director at UOB Kay Hian in Hong Kong.

At the close of trade, the Hang Seng index was up 122.12 points or 0.54% at 22,688.90. The Hang Seng China Enterprises index rose 0.87% to 7,773.61.