Promising signs of recovery in overseas markets
Hong Kong shares rise, buoyed by uptick in casino earnings
2014-10-21
Reading time 29 seg
(Hong Kong).- Hong Kong shares finished higher last Friday, lifted by signs of recovery in overseas markets and a good earnings report from one casino that lifted stocks in that sector. The Hang Seng Index closed up 0.5 percent at 23,023.21 points. The China Enterprises Index of the leading offshore Chinese listings in Hong Kong also rose 0.5 percent.
For the week, the two indices were down 0.3 percent and 0.7 percent, respectively. Shares of Sands China, which posted solid third-quarter results, rose 5.3 percent. Galaxy Entertainment Group gained 4.6 percent.
Some analysts said they had expected casinos to report better fourth-quarter earnings as they believed the number of visitors travelling to Macau during the mainland's Golden Week was higher than a year earlier.
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