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HONG KONG Hong Kong stocks extended gains Friday, fueled by mainland banks for a second day after a unit of China's sovereign-wealth fund said it will continue to buy shares in major lenders, with sentiment also underpinned by hopes Beijing will act to support the economy. The Hang Seng Index rose 1.1% to 21,223.79, a day after it defied broad losses in Asia to finish higher, while the Hang Seng China Enterprises Index jumped 1.8% to 10,412.70. Shares of Industrial & Commercial Bank of China Ltd. rose 1.8% and China Construction Bank Corp. rallied 2.7%. Among other notable climbers, casino operator Sands China Ltd. jumped 3.4% and foods company Tingyi Cayman Islands Holding Corp. soared 5.3%. China's Shanghai Composite added 1.1% to 2,125.21.

One Response so far.

  1. Calvin Q says:

    I still think the global economy is weak, better to invest in gold bullion or precious metals.

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