The Hang Seng Index closed up 0.3 percent to 11,446.52 on Friday. With valuations still relatively cheap, funds are targeting lower valued inventory.

Markets in China will resume trading on Jan. 30 following a week-long Lunar New Year holiday.

A feature of trading on the Hong Kong bourse over the past six sessions and the last couple of weeks has been the flow of funds into Hong Kong equities.

The reason?  Companies in the Index trade around 10.3 times forecast earnings, down from 14.4 times at the beginning of 2011.

Legacy Iron Ore (ASX: LCY) has appointed Timothy Turner, who has previously been non-executive chairman, as a non-executive director.

African Eagle Resources (LON:AFE) has added two non-executive directors to its board as it transforms from an explorer to mine developer.

Don Newport and Dr Christopher R. Pointon are joining the company as it develops its flagship Dutwa Nickel project in Tanzania, it announced today.

Co-chairman Gordon Toll is retiring from the board of Mongolia focused Petro Matad (LON:MATD), it emerged.

Toll has retired immediately to focus on personal matters and other business interests in the mining industry, the oil firm said in a statement this morning.

Dr Janchiv Oyungerel, previously the co-chair with Toll, has now been appointed chairman.

Hong Kong’s Hang Seng Index was little changed in a trading week interrupted by holidays.

Markets in Hong Kong resumed trading today following a five-day weekend, while those in China remain closed for the Lunar New Year holiday.

Financial markets in mainland China will resume trading on Monday after a week long Chinese New Year holiday.

The Hang Seng Index was down just 7.18 points (or 0.04%) at 20,431.96 points.

After five straight days of gains, some profit taking would not be unexpected.

The Hang Seng Index gained 1.6 percent to 20,439.14 on Thursday, its highest close since Sept. 1.

The market has climbed 11 percent so far this month, the biggest advance among Asian benchmark indexes, as investors place bets China will ease lending curbs and on signs the U.S. economy is improving and Europe will contain the region’s debt crisis.

Chinese lenders and developers rallied today on speculation the mainland will loosen monetary policy.

Leni Gas & Oil (LON:LGO) said drilling on the Eugene Island field in the Gulf of Mexico could begin next week with the arrival of the Ocean Columbia jack-up rig expected imminently.

The rig has now been released by the previous operator and will be mobilised to the Eugene Island platform shortly if weather conditions allow.

Camco International (LON:CAO) announced that Emmanuel Walter will join the company as chief financial officer and that president Yariv Cohen has today stepped down from the board.

Walter will take up the position with effect from next month (February 1), the company said.

Westminster Group (LON:WSG) has appointed industry veteran Dr Phil G Jackson as the new chief operating officer of its aviation division, Westminster Aviation Security Services Ltd.

Shares in Charles Stanley (LON:CAY) took a tumble this morning as it said downward pressure on revenues had continued.

The stockbroker released a statement this morning, covering the period from October 1 last year to January 25, and included trading results for the three months to end 2011.

In those three months, revenues had fallen to £27.3 million versus £32.3 million in the comparative period, it said