Hong Kong equities advanced on Friday as investors welcomed fresh policy signals from China's Central Economic Work Conference aimed at strengthening the domestic economy.
The Hang Seng Index gained 446.28 points, or 1.8%, to 25,976.79, while the Hang Seng China Enterprises Index added 145.07 points, or 1.6%, to 9,079.35.
Chinese leaders promised to implement a more active fiscal policy next year to support consumption and investment.
The commitments were detailed in a Xinhua News Agency readout of the annual economic work conference, which defines policy priorities for the year ahead.
Government advisers and analysts expect China to maintain a growth target of around 5% next year, according to a Reuters report.
Liquidity support via lower reserve ratios and interest-rate cuts is also possible, according to the readout, though analysts anticipate only incremental easing, the report added.
In corporate news, ZTE (HKG:0763, SHE:000063) closed 4% higher after announcing plans to repurchase between 1 billion yuan and 1.2 billion yuan of its China-listed shares to support employee incentive and share ownership schemes.
Meanwhile, Hang Yick (HKG:1894) declined 19% after proposing a capital reorganization and fundraising plan that includes a 20-for-1 share consolidation, an increase in authorized share capital, and a non-underwritten rights issue.
Source: MT newswires
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