HONG KONG Nov 15 Chinese shares listed in Hong
Kong posted their biggest daily gain in three months on Friday,
on China reform hopes and after comments from the U.S. Federal
Reserve presumptive chair raised hopes of an extension in easy
U.S. monetary policy.
China's reform plan approved by the party plenum was
"unprecedented" and fundamental changes are expected after
upgrading the market's role in the economy, a senior party
official said in comments published on Friday.
Market players also cited a circulating draft of what they
say could be the "final decision" containing reform details from
the Communist Party plenum meeting that had ended on Tuesday.
The initial communique was seen vague and spawned doubts about
the government's commitment to reform. The final document is due
for release next week.
The Hang Seng Index ended up 1.7 percent at 23,032.2
points, while the China Enterprises Index of the top
Chinese listings in Hong Kong spiked 3 percent in its biggest
single-day gain since Aug. 12.
Rises helped both indexes swing into gains on the week. They
rose 1.3 and 3 percent, respectively. Although bourse turnover
slowed in the afternoon, the full-day total on Friday was still
the heaviest since Oct. 23.