Nov 12 (Reuters) - Hong Kong shares inched higher on Friday,
driven by gains in tech heavyweights although e-commerce giant
Alibaba retreated after its Singles Day sales grew at the
slowest pace ever.
The Hang Seng index rose 0.3% to 25,327.97, while the
China Enterprises Index gained 0.7% to 9,114.37.
** For the week, the Hang Seng Index climbed 1.8% and the
China Enterprises Index jumped 3.3%, the most in three weeks for
** The Hang Seng Tech Index climbed 1.6%, with
tech giants Meituan and Tencent Holdings up
2.6% and 1.6%, respectively.
** Index heavyweights Meituan and Tencent shored up the Hang
Seng Index, while Alibaba Group finished down 0.5%.
** Alibaba's Singles Day sales grew 8.5%, the slowest rate
ever, underscoring strong regulatory and supply chain headwinds
for China's tech firms.
** Shares of JD.Com Inc surged 5.2% after the
e-commerce group posted a record-breaking 'Singles Day' Grand
** China's largest chipmaker Semiconductor Manufacturing
International Corp plunged 3.8% after its
vice-chairman resigned in a leadership reshuffle.
** Hotpot chain Haidilao International Holding Ltd
slumped 9% and was the biggest percentage decliner in the Hang
Seng Index, after it unveiled a $302 million share sale plan for
credit facilities repayment.
(Reporting by the Shanghai Newsroom; Editing by Subhranshu