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Friday, November 25, 2016, 16:32

Stocks close at 2-week high as Shenzhen Connect nears

By Reuters

SHANGHAI - Hong Kong stocks had their best week in 1-1/2 months, with the benchmark index closing at a two-week high on Friday, partly aided by steady money inflows from mainland as a cross-border link will be launched soon.

The Thanksgiving break in the United States also helped slow a relentless surge in the US dollar that has sucked capital out of most emerging markets.

The Hang Seng index rose 0.5 percent, to 22,723.45, the highest closing since Nov 10.

The Hong Kong China Enterprises Index, which tracks Chinese companies listed in the city, posted solid gains, rising 1.2 percent, to 9,790.23 points, aided by a recovering mainland market.

The market has witnessed relatively strong inflows from Chinese investors via the Shanghai-Hong Kong Stock Connect, as a sister investment link connecting Hong Kong and Shenzhen will be launched soon.

Most sectors rose, with financial and consumer stocks leading the gains.

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