* Hang Seng index ends up 1.57%
* China Enterprises index HSCE rises 2.06%
* HSTECH index up 2.33%, Xiaomi jumps on Reuters report on EV plans
March 26 (Reuters) – Hong Kong’s Hang Seng Index ended higher on Friday supported by gains in technology companies, but rising tensions between the West and China led the benchmark index to post losses for the week. ** The European Union joined Washington’s allies this week in imposing sanctions on officials in China’s Xinjiang region over allegations of human rights abuses, prompting retaliatory sanctions from Beijing. ** At the close of trade, the Hang Seng index was up 436.82 points, or 1.57%, at 28,336.43, after finishing at its lowest close since Jan. 11 a day earlier. The Hang Seng slipped 2.26% for the week. ** The Hang Seng China Enterprises index rose 2.06% to 10,966.06. It was down 2.82% for the week. ** Tech firms led Friday’s turnaround, up 2.33%. Meituan rose 5.08% and Tencent Holdings Ltd added 2.31%. ** Xiaomi Corp jumped 6.28% after Reuters reported the company planned to make electric vehicles using Great Wall Motor Co Ltd’s factory. Great Wall’s Hong Kong shares soared 10.38% and its Shanghai shares rose by the 10% daily limit. ** The sub-index of the Hang Seng tracking energy shares rose 1.9%, while the IT sector rose 2.42%. The financial sector ended 0.87% higher and the property sector rose 1.72%. ** ANTA Sports Products Ltd rose 5.61% and Li Ning Co Ltd jumped 2.9% as internet users said they would support local brands after Nike and Adidas came under attack on Chinese social media over past comments about labour conditions in Xinjiang. ** China’s main Shanghai Composite index closed up 1.63% at 3,418.33 points, while the blue-chip CSI300 index ended up 2.27%.
Reporting by Andrew Galbraith in Shanghai; Editing by Amy Caren Daniel