HONG KONG Jan 18 Hong Kong shares closed at
their highest in 19-1/2 months on Friday, led by
growth-sensitive counters after data showed China's economy
rebounded in the fourth quarter.
The Hang Seng Index closed up 1.1 percent on the day
and 1.5 percent on the week at 23,601.8, its highest since June
1, 2011. The China Enterprises Index of the top Chinese
listings in Hong Kong rose 2.1 percent on Friday and 2.2 percent
The CSI300 of the top Shanghai and Shenzhen
A-share listings rose 1.7 percent on the day and 4.5 percent for
the week. The Shanghai Composite Index gained 1.4
percent on Friday and 3.3 percent for the week.
* Chinese automakers were among the top performers on the
day with traders citing a local media report that Zhengzhou, a
city in central China, will prioritise locally produced vehicles
when making new purchases in a move to support the industry.
* Baoxin Auto surged 8.2 percent after Goldman
Sachs added the China auto maker to its conviction list, citing
its highest luxury car sales volume mix.
* Gains on Friday helped the Hang Seng Index cover the gap
on the chart that opened between June 1 and 2, 2011, something
it has struggled to do since the start of the year.
* A raft of China data on Friday added to evidence of a
burgeoning recovery in exports, stronger than expected
industrial output and retail sales, together with robust fixed
asset investment, all signalled that Beijing's pro-growth policy
mix has gained sufficient traction to underpin a revival without
yet igniting inflationary risks.