China's stock market showed the best weekly gain since March, supported by hopes that the Chinese stocks will be included in the MSCI emerging markets index later this month, which should revive the interest of foreign investors in the market of Mainland China.
CSI300 Index, which tracks the value of securities of the largest companies traded in Shanghai and Shenzhen, rose 0.7 % and ended the trading session on Friday at the level of 3189.33 points. Last week the index rose 4.1 %.
Shanghai Composite Index of Shanghai Stock Exchange rose 0.5 % to 2938.68 points, adding for the week 4.2 % and breaking a six-week series of declines.
Growth of indices on Friday restrained fears over a slowdown in the Chinese economy and the downward pressure on the Yuan.
Investors are waiting for the publication of May statistics next week to assess the country's prevailing economic situation.
Consumer, health care and technology sectors rose sharply during the session, while the energy sector and the materials sector fell.
Hong Kong stock market rose to one-month high on Friday, ending in positive territory the third consecutive week, but trading was listless, reflecting investors’ caution because of a possible rise in interest rates in the United States later in June.
The fears for the health of the Chinese economy and the outcome of the referendum in the UK on Brexit issue, also temper the appetite for risk.
The index of Hong Kong Stock Exchange – Hang Seng rose 0.4 % to 20 947.24 points. The index of Chinese companies traded in Hong Kong, gained 0.6 % and closed at 8809.81 points.
For the week, Hang Seng index rose 1.8 %.
Most of the stocks ended the day in positive territory, but the leaders of growth appeared the municipal sector.