Market Review

Hong Kong shares rose on Friday, with exporter Li & Fung (494.HK) leading gains on hopes of a recovery in the US economy. The HSI ended up 1.0% or 212.2 pts at 20,788.0 pts , finishing the week up 0.9%. The HSCEI closed up 1.3% at 11,927.4 pts, ending the week 3.3% higher. Turnover increased to HK$69.2 bn from Thursday's HK$62.2 bn. PetroChina (857.HK) touched a four-week high of HK$9.03 before ending at HK$8.93, up 1.8%. Chairman Jiang Jiemin said the company expected profit to improve this year. Li & Fung, which in January signed a sourcing agreement with US retailer Wal-Mart, ended up 2.2% at its highest close in more than two years, but off an all-time high of HK$40.0.