Shares in Hong Kong rise in fragile recovery


In Hong Kong Friday, the Hang Seng Index added 0.7% to close at 22,554, and the Shanghai Composite Index rose 0.5% to end the day at 3,188. Shares fell in Tokyo, sending the Nikkei Index down 0.4% to 9,770.

According to the International Monetary Fund, Hong Kong's economic recovery is fragile. This was emphasized by figures showing a rise in GDP of only 0.4% -- lower than economists had forecast. Meanwhile, the Hang Seng continued its rise with banks registering gains today. Bank of China (BACHY) gained 3.2%, Industrial & Commercial Bank of China (IDBCY) rose 1.9% and Standard Chartered (SCBFF) added 2.9%.