Hong Kong Equities Climb Over 6.5% Weekly

The Hang Seng surged 450.64 points or 2.32% to close at over four-month peak of 19,900.87 on Friday, building gains from the prior session and posting a 6.6% jump for the week which was the second straight weekly gain, boosted by a rebound in US stocks Thursday ahead of key inflation print that will provide clues on whether the Fed will be able to start slowing down its aggressive tightening.

Traders shrugged off weak China's factory-gate and consumer prices for November, as they remain optimistic that the worst of Chinese economic woes from COVID is over.

All sectors contributed to the rally, with the property index soaring almost 7%, on expectations Beijing may add support for the sector at a key economic meeting next week.

China Resources Land soared 11.1%, followed by Sino Land (4.7%), Sun Hung Kai Properties (4.3%), Swire Properties (4.2%), Tencent Hlds (2%), Meituan (5.7%), and CK Infrastructure Hlds (1.6%).