HONG KONG (Nikkei Markets) -- Hong Kong shares logged their best week in more than two months, helped by the withdrawal of a controversial piece of legislation and hopes for a Sino-American trade deal.
The Hang Seng Index added 0.7% to 26,690.76 on Friday, taking its advance since Aug. 30 to 3.8% -- the strongest weekly performance since the period that ended on June 21. This week's gains were underpinned by a rally on Wednesday, following media reports that the Hong Kong government planned to formally withdraw its proposed extradition bill, which has sparked months of unrest in the territory due to fears it would allow people to be extradited to places including mainland China to stand trial.
