Wall Street Rally Lifts Hong Kong Stocks

Hong Kong stocks surged more than 1 percent on Friday, in line with a regional advance as tepid inflation figures soothed concerns about a sharp lift in US interest rates this year.

The Hang Seng Index rose 1.4 percent, to 31,227 by the break, putting it on course for a fifth successive gain.

On the mainland, the Shanghai Composite Index was down 0.1 percent to 3,169, while the Shenzhen Composite Index lost 0.6 percent, to 1,832.

Most other Asian markets gained following another rally on Wall Street. Tokyo ended the morning 0.9 percent higher and Sydney added 0.3 percent.

Singapore rose 0.4 percent and Seoul gained 0.6 percent, while Wellington and Taipei also posted healthy gains.

Manila was 1.7 percent higher a day after data showed the economy expanded at a strong pace in the first three months of the year, and despite a central bank interest rate hike. (AFP)

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