Hong Kong’s Hang Seng Index closed higher on Friday, turning around from earlier losses on a boost from real estate and consumer staples firms, but sentiment remained fragile amid concern over the US Federal Reserve's tightening.

At the close of trade, the Hang Seng Index was up 13.20 points or 0.05 percent at 24,965.55, after earlier falling more than 0.9 percent. The Hang Seng China Enterprises Index rose 0.29 percent to 8,787.3.

Gains were led by consumer staples firms, with an index tracking the sector closing up 2.59 percent on the day.

A sub-index tracking property and construction firms rose in the afternoon session to close 1.03 percent higher, led by a 5.06 percent rise in Kerry Properties and a 4.95 percent gain in Sunac China Holdings

The index has risen for four straight sessions this week on hopes that a slew of recent government measures will help ease the sector’s funding squeeze and reverse a slump in construction.

China Evergrande Group fell 0.56 percent and Country Garden Holdings dropped 2.87 percent amid continued concerns over liquidity.

Country Garden, China’s biggest property developer by sales, said it would issue HK$3.9 billion ($500.76 million) of convertible bonds to refinance debt.