Hong Kong stocks see best weekly show in 3 months on mainland demand

Hong Kong stocks closed higher on Friday, helping the indexes post their best weekly performance in three months, following persisting buying activity from mainland investors. ** The yuan was quoted at 6.4773 per U.S. dollar at 0834 GMT, down 0.08%. ** China's A-shares closed at a premium of 36.02% over Hong Kong-listed H-shares.

Hong Kong stocks closed higher on Friday, helping the indexes post their best weekly performance in three months, following persisting buying activity from mainland investors. ** The Hang Seng index ended 0.6% higher at 29,288.68, while the China Enterprises index was unchanged at 11,561.32.

** For the week, HSI added 3.6%, its biggest gain since the week ended Nov. 6, 2020, while the HSCE added 3.2%. ** On Friday, mainland investors purchased net of HK$9.4 billion ($1.21 billion) worth of Hong Kong stocks via the Stock Connect linking mainland and Hong Kong, Refinitiv data showed.

** That came after their buying hit a monthly record of more than HK$300 billion in January, as asset managers looked to the city for bargains. ** Kuaishou Technology surged three-fold in its Hong Kong debut to become the fifth-largest listed company in the city, driven by massive demand from mom-and-pop investors for the Chinese online video service operator.

** Worries over Sino-U.S. tensions, however, kept the gains in check. ** The United States is deliberately "creating tension" and disrupting peace and stability, China's military said, after a U.S. warship sailed through the sensitive Taiwan Strait.

** Around the region, MSCI's Asia ex-Japan stock index was weaker by 0.52%, while Japan's Nikkei index closed up 1.54%. ** The yuan was quoted at 6.4773 per U.S. dollar at 0834 GMT, down 0.08%.

** China's A-shares closed at a premium of 36.02% over Hong Kong-listed H-shares. ($1 = 7.7525 Hong Kong dollars)