Hang Seng extends gain for fifth day

Hong Kong share market closed higher in narrow trade on Friday, 14 November 2014, registering fifth day of consecutive gain, boosted by continued optimism over the launch of the Hong Kong-Shanghai Stock Connect program on Monday. The Hang Seng Index rose 0.28%, or 67.44 points, to 24087.38. Turnover decreased to HK$72.63 billion from HK$83.93 billion on Thursday.

The Stock Connect program, which will allow individual investors outside of China to buy Shanghai-listed shares for the first time ever, which begin on trading on November 17, expected to allows a net 23.5 billion yuan a day in cross-border purchases. The exchange link marks one of China's biggest steps toward opening up its capital account, boosting global use of the yuan and turning Shanghai into an international financial centre.

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