Hong Kong shares rise on Alibaba and HSBC gains post-Scotland vote
HONG KONG, Sept 19 (Reuters) - Hong Kong shares had solid rises on Friday, after Alibaba Group's IPO-BABA.N red-hot initial public offering underpinned U.S. bourses, but they were still down for for the week.
The Hang Seng Index advanced 0.6 percent at 24,306.16 points on the day, leaving it down 1.2 percent for the week. The China Enterprises Index of the leading offshore Chinese listings in Hong Kong was down 2.1 percent on the week and 0.2 percent 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 percent to a seven-month high and Standard Chartered rose 0.9 percent.
Wynn Macau jumped 6.0 percent and Melco Crown Entertainment 4.7 percent, as money started flowing into battered casino stocks.
Chinese insurers also outperformed after the official Shanghai Securities News reported on Friday China is considering allowing them to issue preference shares in a bid to offer more funding options for the sector. (Reporting by Grace Li; Editing by Richard Borsuk)
© Thomson Reuters 2017 All rights reserved.