Local stocks shrug off Covid fears to finish higher

Hong Kong stocks closed the first week of the new year on a positive note on Friday as traders shrugged off worries about a fresh outbreak in the city and the prospect of higher US interest rates, with tech firms enjoying some healthy bargain-buying.

The Hang Seng Index climbed 1.82 percent, or 420.52 points, to 23,493.38, leaving it 0.41 percent up for the week.

The Shanghai Composite Index eased 0.18 percent, or 6.54 points, to 3,579.54, and the Shenzhen Composite Index on China’s second exchange lost 1.15 percent, or 28.51 points, to 2,452.82. (AFP)