Property Stocks Propel China and Hong Kong Market Rise

China and Hong Kong stocks saw gains on Friday, fueled by the property sector amid economic recovery signals. U.S. election concerns tempered gains, while housing and manufacturing data indicated stimulus measures are bearing fruit. Key legislative meetings on fiscal stimulus are anticipated next week.

China and Hong Kong stocks experienced a rise on Friday, driven by encouraging developments in the property sector amid signs of economic recovery.

Despite the positive trend, concerns about the upcoming U.S. presidential election and its implications for Sino-U.S. trade policies limited gains. A focal point for investors next week will be China's legislative meeting.

At midday, key indexes saw increases: Shanghai Composite was up 0.6%, CSI300 rose 0.87%, and Hang Seng China Enterprises surged 1.82%. However, Shenzhen and tech-focused indexes showed declines. Housing prices in China increased rapidly in October, suggesting the impact of recent stimulus measures.

(With inputs from agencies.)