HK shares rise on Alibaba, HSBC gains
Sunday, 21 September 2014
HONG KONG, Sept 20 (Reuters): Hong Kong shares had solid rises on Friday, after Alibaba Group's IPO-BABA.N red-hot initial public offering underpinned US bourses, but they were still down for for the week.
The Hang Seng Index advanced 0.6 per cent at 24,306.16 points on the day, leaving it down 1.2 per cent for the week.
The China Enterprises Index of the leading offshore Chinese listings in Hong Kong was down 2.1 per cent on the week and 0.2 per cent on Friday.
Banks with major British ties were stronger as Scottish voters decided to remain in the United Kingdom. HSBC Holdings, top boost on the Hang Seng, added 1.7 per cent to a seven-month high and Standard Chartered rose 0.9 per cent.