Hang Seng Index Ends On Positive Note

Local shares staged a strong rebound on Friday to snap a five-day losing streak, while markets elsewhere in the region also headed north as traders shifted their focus from geopolitical tensions to the global economic recovery.

The Hang Seng Index started the day up 144 points. Buying gathered steam in the afternoon to drive the benchmark up 515 points. The blue-chip index finished the day 436 points, or 1.6 percent, higher at 28,336, on turnover of HK$183.9 billion.

For the week, the index shed 2.3 percent.

The day's top blue-chip gainer was Country Garden. The mainland developer surged eight percent, after its boss pledged to boost sales and grow the company.

Xiaomi jumped more than six percent after Reuters news agency reported that the smartphone maker is planning to make electric vehicles using a Great Wall Motor factory. Great Wall Motor's shares here soared 10.4 percent.

Mainland sportswear firms continued to log gains as a row over Xinjiang-produced cotton raged on. Anta swelled 5.6 percent while Li Ning was up about three percent.

Across the border, the Shanghai Composite Index put on 1.6 percent, while the blue-chip CSI300 index rallied 2.3 percent. The Shenzhen Composite advanced 2.2 percent.

In Japan, the Nikkei gained 1.6 percent. Seoul's Kospi rose 1.1 percent. Taiwan added 1.5 percent. Australia edged up half a percent.