Hong Kong shares rise; led by Li & Fung, property

viernes 21 de marzo de 2014 04:21 GYT
 

HONG KONG, March 21 (Reuters) - Hong Kong shares ended up, lifted by a rally in Chinese shares in the afternoon session on gains led by Li & Fung and the property sector.

The Hang Seng Index closed up 1.2 percent at 21,436.70, its best day in three weeks.

The benchmark index closed down 0.5 percent on the week to its fourth consecutive week of losses.

The China Enterprises Index of the top Chinese listings in Hong Kong rose 2.44 percent on the day and 1.4 percent for the week, its largest weekly gain in five weeks.

The index of mainland enterprises had entered a bear market on Thursday, falling more than 20 percent since the start of December.

Shares in global sourcing firm Li & Fung soared 21.2 percent, its highest daily gain since Oct. 2008, as investors cheered better-than-expected earnings and focused on a plan that includes the spin-off of a unit that manages brands and licences.

(Reporting by Alice Woodhouse; Editing by Eric Meijer)