Hong Kong stocks capped the best weekly performance in two months as investors gear up for a key tone-setting Chinese economic policy meeting next week, which they hope will lead to the roll-out of stimulus measures to fight deflation and counter possible new US tariffs.
The Hang Seng Index rose 1.6 per cent to 19,865.85 at the close, taking the gain to 2.3 per cent for the week. That was the benchmark’s best performance for the five-day period since October 4. The Hang Seng Tech Index advanced 2.2 per cent.
China’s CSI 300 Index climbed 1.3 per cent, and the Shanghai Composite Index added 1.1 per cent.
Wuxi AppTec and Wuxi Biologics surged after Citigroup said that US lawmakers were weighing a potential compromise on a bill aimed at preventing Chinese biotech firms from obtaining US government contracts. Property developers including Longfor Group rallied on expectations about more policy support for the industry.
The central…
