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Friday, November 18, 2016, 17:47

Stocks rise, but lose ground for a 4th straight week

By Reuters

Hong Kong stocks rose on Friday, but posted a fourth consecutive weekly loss amid worries the United States will raise interest rates next month and a strong dollar could keep drawing money there from emerging markets.

The benchmark Hang Seng index rose 0.4 percent, to 22,344.21, and lost 0.8 percent for the week.

The Hong Kong China Enterprises Index gained 0.2 percent on Friday, and for the week was down 0.9 percent.

Federal Reserve Chair Janet Yellen said on Thursday in Congressional testimony that the Fed could raise interest rates 'relatively soon'.

Most sectors in Hong Kong rose on Friday, with consumer good and services sector up around 1 percent.

An index tracking raw materials lost nearly 2 percent this week after touching a nearly 16-1/2-month high last week.

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