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China, Hong Kong shares rise on upbeat lending data

Published on Jun 13, 2014 1:11 PM

HONG KONG (Reuters) - Shares in China and Hong Kong rose on Friday, led by strong gains in the banking sector after data showed China's new bank lending and money supply rose faster than expected in May, adding to hopes that the economy was stabilising.

By midday, the Hang Seng Index rose 0.6 per cent to 23,316.31 points, while the China Enterprises Index of the top Chinese listings in Hong Kong was up a similar amount.

The CSI300 of the leading Shanghai and Shenzhen A-share listings gained 1.3 per cent, while the Shanghai Composite Index was up 0.9 per cent at 2,070.27 points.

On the week, the Hang Seng benchmark was up around 1.6 per cent. The H-share index rose 1.5 per cent and is headed for its fifth-straight weekly gain.

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