Hong Kong Shares End 1.22% Higher

Hong Kong stocks rose 1.22 percent Friday, soaring almost eight percent in three days as mainland investors turn their attention to relatively cheap assets after a year-long rally in Shanghai.

The benchmark Hang Seng Index climbed 328.00 points to 27,272.39 on turnover of HK$ 221.15 billion ($ 28.54 billion).

In mainland China the benchmark Shanghai Composite Index jumped 1.94 percent, or 76.78 points, to 4,034.31 — the highest close since March 12, 2008 — on turnover of 668.5 billion yuan ($ 108.9 billion).

The Shenzhen Composite Index, which tracks stocks on China’s second exchange, rose 2.49 percent, or 52.14 points, to 2,149.11 on turnover of 565.4 billion yuan.

Source: Bloomberg