Hong Kong - Hong Kong shares surged by more than 4 per cent Friday on the back of a strong overnight performance on Wall Street, ending another roller-coaster week up by 600 points.

The blue-chip Hang Seng Index gained 524.27 points or 4.37 per cent to close the week at 12,528.8. Turnover was 43.9 billion Hong Kong dollars (5.66 billion US dollars.)

The index started the week at 11,921 and fell 5 per cent in Monday, trading to a low of 11,344 when a massive last-minute sell-off of shares in banking giant HSBC dragged priced down.

HSBC shares have since recovered strongly and gained 5 per cent Friday to close at 38.05 Hong Kong dollars. Shares in the Hang Seng Bank were up nearly 6 per cent and Bank of China shares up 2.2 per cent. (dpa)