Hong Kong stocks end higher, IPOs surge

Hong Kong shares closed higher on Friday, while the mainland markets extended their rally, posting solid weekly gains.

The Hang Seng Index rose 82 points, or 0.32 percent, to close at 26,231. Market turnover amounted to HK$245.1 billion, down 8.63 percent from the previous session. The China Enterprises Index added 9 points, or 0.1 percent, to 9,048, while the Hang Seng Tech Index edged up 0.15 percent to 5,687.

All three newly listed stocks ended their first trading day higher. AI firm MiniMax (0100) surged 109.09 percent, Yunnan Jinxun Resources (3636) climbed 26 percent, and Suzhou Ribo Life Science (6938) jumped 41.62 percent.

In Chinese mainland, the Shanghai Composite Index closed up 0.92 percent at 4,120, marking a weekly gain of more than 3.8 percent. The Shenzhen Component Index rose 1.15 percent to 14,120 and recorded a weekly increase of nearly 4.4 percent.