Local stocks surge nearly 8 percent
Hong Kong stocks surged on Friday as investors took heart from the double whammy of lower United States inflation data and Beijing announcing a slight relaxation to its Covid-19 restrictions. The Hang Seng Index closed up 7.74 percent, or 1,244.62 points, to 17,325.66 while the exchange's China Enterprises Index, which lists major mainland companies, closed even higher, up 8.31 percent. Mainland stocks also climbed, with the benchmark Shanghai Composite Index up 1.69 percent to 3,087.29 points. The Shenzhen Component Index closed 2.12 percent higher at 11,139.77 points. Most Asian stocks also went up. (Agencies)