Hong Kong stocks rose slightly on Thursday, with property stocks extending gains made in the previous session after a Fed minutes report and ahead of the trading debut of the Link REIT initial public offering.
Hong Kong's blue chip Hang Seng Index ended up 0.15 percent, or 22.04 points, at 15,084.39. Turnover was HK$19.4 billion (US $2.5 billion), compared to HK$21.9 billion on Wednesday.
The Hang Seng Properties sub index extended gains made in the previous session after minutes from the November meeting of the US Federal Reserve hinted at a possible end to its series of interest rate rises.
The market also had a positive view of the trading debut of the US $2.5 billion Link REIT on Friday, with shares trading 4.9 percent higher in the grey market than their IPO price of HK$10.30.
"Yesterday's positive feelings are still pushing up the property sector, and investors also think the Link REIT will do well," said Y.K. Chan, strategist at Phillip Securities.
Heavyweight developers Cheung Kong (Holdings) Ltd rose 0.92 percent to HK$81.95 and Sun Hung Kai Properties Ltd rose 0.85 percent to HK$77.05.
China enterprise stocks, also known as H-shares, edged up 0.16 percent to 5,112.25, but top Asian refiner Sinopec Corp fell 0.69 percent to HK$3.575 after a dip in the crude oil prices overnight.
Shares in cordless phone and consumer electronics maker VTech Holdings Ltd shed 7.9 percent to HK$27.45 after it said on Wednesday its fiscal first-half earnings had rocketed by more than five times, thanks to strong sales of educational toys and a return to profitability for its telecoms gear business.
Traders said investors were locking in profit after the stock's heady rise, gaining 165 percent between June 22, when its full-year results report far exceeded forecasts, and Wednesday.
Shares in Chinese Internet media company Tencent Holdings Ltd rose 7.5 percent to HK$8.60 after it said on Wednesday its net profit for the nine months ended September 30 rose 11.36 percent to 361.68 million yuan ($44.76 million).
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