Around the World's Markets: Hong Kong

THE HANG SENG index closed up 153.55 points, or 1.2 per cent, at 12,992.76 as China's rate cut on Thursday again buoyed the market, which was also helped by Japan's GDP data, traders said. Turnover was HK$8.17bn, down from HK$8.71bn on Thursday.

The rise in the index was led by Cathay Pacific Airways, which rose by 6.7 per cent to HK$12.75 after its deal with the pilots' union to cut costs by HK$1.4bn over 10 years. Chinese state-controlled companies rose for the second day running.