- HK->Shanghai Connect daily quota used 17.2%, Shanghai->HK daily quota used 5.3%
- HSI +1.4%, HSCE +1.9%, CSI300 +1.6%
- FTSE China A50 +1.8%
June 25 (Reuters) - Hong Kong stocks closed higher on Friday to post weekly gains, as tech and materials companies rose after mainland investors continued to buy shares via the Stock Connect.
The Hang Seng index ended up 405.76 points or 1.4% at 29,288.22. The Hang Seng China Enterprises index rose 1.88% to 10,878.45.
Leading the gains, the Hang Seng tech index and the Hang Seng materials index climbed 2.4% and 3.3%, respectively.
The sub-index of the Hang Seng tracking energy shares rose 1.7%, while the IT sector rose 3.1%, the financial sector ended 0.75% higher and the property sector rose 0.18%.
The top gainer on the Hang Seng was Meituan, which gained 4.76%, while the biggest loser was Sunny Optical Technology Group Co Ltd , which fell 1.58%.
For the week, HSI gained 1.8%, while HSCE added 2.2%.
Federal Reserve Chair Jerome Powell during the week reaffirmed that the U.S. central bank would not raise interest rates too quickly based only on the fear of coming inflation.
Aiding sentiment was continued buying from mainalnd investors, who purchased a net 5 billion yuan worth of Hong Kong shares on Friday, according to Refinitiv data.
Meanwhile, the U.S. House of Representatives Foreign Affairs Committee has scheduled a meeting on Wednesday to consider sweeping legislation to boost economic competitiveness and push Beijing on human rights.
On Thursday, the Biden administration banned U.S. imports of a key solar panel material from China-based Hoshine Silicon Industry Co , but stopped short of imposing a ban on all imports of silica from Xinjiang and said the action would not harm U.S. clean energy goals.
(Reporting by the Shanghai Newsroom; editing by Uttaresh.V)
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