Weighed down by concerns about the slowing Chinese economy, Hong Kong struggled before posting slight gains when Mainland stocks rebounded from early losses.
Chinese and Hong Kong blue chips consolidated at the 19,000 level after Thursday's whopping gain, and turnover fell. Renewed optimism for a solution in Europe is driving bulls.
The Hong Kong market rose sharply due to gains in Hong Kong-listed ADRs in the U.S. on Friday and to optimism Europe would solve its debt crisis at a regional summit on Wednesday.