Hong Kong stocks rose the most in two weeks on Friday, aided by a sharp rebound in Tencent Holdings, and better-than-expected China November trade data. At close of trade, the Hang Seng index was up 336.66 points or 1.19 percent at 28,639.85. The Hang Seng China Enterprises index rose 1.25 percent to 11,289.57.
The sub-index of the Hang Seng tracking energy shares dipped 0 percent while the IT sector rose 3.9 percent, the financial sector was 1.04 percent higher and property sector rose 1 percent. The top gainer on Hang Seng was Country Garden Holdings Company Ltd up 5.7 percent, while the biggest loser was MTR Corp Ltd which was down 1.30 percent.
So far this year, the Hang Seng index is up 28.65 percent, while China's H-share index is up 18.7 percent. The top gainers among H-shares were New China Life Insurance Co Ltd up 5.23 percent, followed by Ping An Insurance Group Co of China Ltd gaining 4.88 percent and Anhui Conch Cement Co Ltd up by 3.7 percent.
The three biggest H-shares percentage decliners were Dongfeng Motor Group Co Ltd which was down 0.96 percent, China Petroleum & Chemical Corp which fell 0.6 percent and Huaneng Power International Inc down by 0.4 percent. About 1.80 billion Hang Seng index shares were traded, roughly 89.4 percent of the market's 30-day moving average of 2.02 billion shares a day. The volume traded in the previous trading session was 1.84 billion.
The price-to-earnings ratio of the Hang Seng index was 12.91 as of the last full trading day while the dividend yield was 3.1 percent. So far this week, the market capitalisation of the Hang Seng index has fallen by 0.85 percent to HK$18.53 trillion.
The short and one-factor leveraged Hang Seng index, which is designed to replicate the payoff of a short or leveraged portfolio and is linked to the movements of the Hang Seng Index, was lower by 1.19 percent on the day at 5,157.74 points.
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