Hong Kong stocks rose almost one percent on Friday, led by property shares, and with investors looking ahead to key US employment data due later in the day. Traders said market sentiment was boosted by sliding oil prices as well as strong liquidity, as foreign funds choose Hong Kong as an investment destination after the US dollar neared record lows against the euro.
The Hong Kong dollar is pegged to the greenback, making Hong Kong equities relatively cheap.
Hong Kong's blue chip Hang Seng Index ended up 0.94 percent, or 125.86 points, at 13,494.95. It gained 3.4 percent for the week.
Turnover was HK$18.1 billion (US $2.3 billion), slightly higher than HK$17.4 billion at Thursday's close.
"The US election is over, so a major element of uncertainty has been removed," said Y.K. Chan, strategist at Phillip Securities.
Property stocks outperformed the Hang Seng. The Hang Seng Properties sub index rose 1.6 percent, or 264.62 points, to 16,812.34.
"The market has been trending higher despite profit taking, because the Hong Kong market is flooded with liquidity," said Alex Tang, research director at Core Pacific-Yamaichi International (HK) Ltd.
Macau-related stocks fell as part of a correction from gains earlier in the week, traders said.
Property investment and hotel operation group Far East Consortium International Ltd fell 5.47 percent to HK$3.025, and sister company Far East Hotels & Entertainment Ltd fell 21.33 percent to HK$0.59.
Leisure and entertainment firm Melco International Development Ltd also fell 1.37 percent to HK$10.80.
Retail stocks rose after the tourism board said on Thursday that Chinese tourists helped catapult the total number of visitors to Hong Kong to a record in September.
Shares in fashion retailer Giordano climbed 2.35 percent to HK$4.35 after it said on Friday that sales for the first nine months rose 19.1 percent year on year, helped by healthy growth in most of its major markets, Hong Kong in particular.
China enterprise stocks, also known as H-shares, rose 0.83 percent, or 38.22 points, to 4,642.24. Fujian Zijin Mining Industry Co Ltd was the top gainer, rising 3.45 percent to HK$3.
The United States is expected to report later on Friday that US non-farm payrolls increased by 169,000 compared with 96,000 in September, according to economists polled by Reuters.
The jobs figure will be closely studied by a US Federal Reserve policy setting committee next week. The Fed is widely expected to hike interest rates by another quarter-percentage point regardless of the data, but very weak job creation numbers could give it pause about lifting rates again in December.