Hong Kong shares edged up for a third straight session following a cautiously optimistic view of the US economy from the head of the Federal Reserve.
The benchmark Hang Seng Index added 0.04 per cent, or 8.78 points, to end at 22,836.96 on turnover of HK$76.97 billion ($A11.12 billion).
Janet Yellen told the Senate Banking Committee that Fed policymakers thought a cold snap across much of the country was to blame for a disappointing run of economic data over the past two months, including on jobs, industrial output and consumption.
However, she said they would be keeping a close eye on the economy to see if the weak figures continue, which could lead to a slower pace of cuts to the stimulus program.
Each of the Fed's past two meetings have seen it cut its bond purchases by $10 billion a month, to a current $65 billion.
Wall Street ended higher. The S&P 500 climbed 0.49 per cent to a new record while the Dow rose 0.46 per cent. The Nasdaq ended 0.63 per cent higher, at its best level since the dot-com crash of 2000.
HSBC added 0.43 per cent to HK$82.25 and Henderson Land Development was up 0.69 per cent at HK$43.50, while Cheung Kong Holdings advanced 0.91 per cent to HK$121.60. Energy giant CNOOC slipped 0.31 per cent to HK$12.72 and China Mobile fell 0.27 per cent to HK$73.75.
Chinese shares ended up 0.44 per cent. The benchmark Shanghai Composite Index rose 8.95 points to 2,056.30 on turnover of 95.7 billion yuan ($A17.36 billion). However, the index fell 2.72 per cent over the week.
The Shenzhen Composite Index, which tracks stocks on China's second exchange, rose 1.43 per cent, or 15.39 points, to 1,090.87 on turnover of 132.5 billion yuan. It dropped 3.89 per cent this week.
A nearly one per cent fall in China's yuan currency against the US dollar initially spooked investors in the morning, but the stockmarket later recovered.
Growing expectations that the annual meeting of the legislature starting next week will yield positive economic polices also offered support, analysts said.
But Guo Lei, analyst with Zheshang Securities, told Dow Jones Newswires: "Investors are worried about a weakening economy, especially after manufacturing data was not too good in January and property prices in areas like Hangzhou (city) and Jiangsu (province) are showing declines."
Investors' eyes are on the release over the weekend of Chinese manufacturing activity data, following a disappointing couple of months that have indicated the sector is shrinking.
Brokerages led the gains. Founder Securities surged by its 10 per cent daily limit to 5.71 yuan and China Merchants Securities gained 6.31 per cent to 10.78 yuan.
Electric car-related plays were higher on hopes business will get a boost from China's push for new energy vehicles.
Automotive accessories maker Ningbo Joyson Electronic jumped 8.06 per cent to 30.16 yuan, while electric car maker BYD gained 7.48 per cent to 56.91 yuan.
