for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

HK stocks end higher on tech, materials boost; post weekly gains

* HK->Shanghai Connect daily quota used 17.2%, Shanghai->HK daily quota used 5.3%

* HSI +1.4%, HSCE +1.9%, CSI300 +1.6%

* FTSE China A50 +1.8%

June 25 (Reuters) - Hong Kong stocks closed higher on Friday to post weekly gains, as tech and materials companies rose after mainland investors continued to buy shares via the Stock Connect.

** The Hang Seng index ended up 405.76 points or 1.4% at 29,288.22. The Hang Seng China Enterprises index rose 1.88% to 10,878.45.

** Leading the gains, the Hang Seng tech index and the Hang Seng materials index climbed 2.4% and 3.3%, respectively.

** The sub-index of the Hang Seng tracking energy shares rose 1.7%, while the IT sector rose 3.1%, the financial sector ended 0.75% higher and the property sector rose 0.18%.

** The top gainer on the Hang Seng was Meituan, which gained 4.76%, while the biggest loser was Sunny Optical Technology Group Co Ltd, which fell 1.58%.

** For the week, HSI gained 1.8%, while HSCE added 2.2%.

** Federal Reserve Chair Jerome Powell during the week reaffirmed that the U.S. central bank would not raise interest rates too quickly based only on the fear of coming inflation.

** Aiding sentiment was continued buying from mainalnd investors, who purchased a net 5 billion yuan worth of Hong Kong shares on Friday, according to Refinitiv data.

** Meanwhile, the U.S. House of Representatives Foreign Affairs Committee has scheduled a meeting on Wednesday to consider sweeping legislation to boost economic competitiveness and push Beijing on human rights.

** On Thursday, the Biden administration banned U.S. imports of a key solar panel material from China-based Hoshine Silicon Industry Co, but stopped short of imposing a ban on all imports of silica from Xinjiang and said the action would not harm U.S. clean energy goals. (Reporting by the Shanghai Newsroom; editing by Uttaresh.V)

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up