Hong Kong shares close higher, Zijin Mining surges 9pc

Hong Kong stocks closed higher on Friday amid the cooldown in market expectations for a US Federal Reserve rate hike.

The benchmark Hang Seng Index rose by 295 points, or 1.28 percent, to 23,350, with a full-day turnover of HK$304.9 billion.

The Hang Seng Tech Index increased by 1 percent to 4,499 points. 

As the gold price rebounded, gold-related shares like Zijin Mining (2899) and Laopu Gold (6181) outperformed the market, up 9 percent and 5 percent, respectively.

Automakers also gained. BYD (1211), Geely Automobile (0175), and Li Auto (2015) advanced 7percent, 5 percent, and 1 percent.

Chipmakers extended losses from the previous trading day, with SMIC (0981) and Hua Hong Semiconductor (1347) slipping 3 percent and 4 percent.

In the mainland, the Shanghai Stock Exchange Composite Index increased 0.37 percent to 4,043 points, and the Shenzhen Stock Exchange Component Index rose by 0.64 percent to 15,597 points.

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